Securian Asset Management Inc. Sells 279 Shares of Avnet, Inc. (NASDAQ:AVT)

Securian Asset Management Inc. lessened its stake in Avnet, Inc. (NASDAQ:AVT) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 6,572 shares of the company’s stock after selling 279 shares during the period. Securian Asset Management Inc.’s holdings in Avnet were worth $344,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Principal Securities Inc. lifted its holdings in shares of Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after purchasing an additional 211 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Avnet by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock valued at $246,000 after purchasing an additional 222 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of Avnet by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock valued at $222,000 after purchasing an additional 261 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Avnet by 18.6% in the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its holdings in shares of Avnet by 2.3% in the fourth quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company’s stock valued at $871,000 after purchasing an additional 381 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of AVT opened at $48.60 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.13 and a beta of 1.09. The stock has a 50 day moving average of $51.01 and a 200 day moving average of $52.70. Avnet, Inc. has a 12 month low of $45.50 and a 12 month high of $59.24.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. As a group, sell-side analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio is currently 37.39%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial decreased their price target on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, January 30th. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $58.00 to $48.00 in a research report on Thursday, January 30th.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.