Securian Asset Management Inc. Has $344,000 Position in Avnet, Inc. (NASDAQ:AVT)

Securian Asset Management Inc. lessened its position in Avnet, Inc. (NASDAQ:AVT) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVT. Synergy Investment Management LLC acquired a new stake in shares of Avnet in the fourth quarter valued at about $38,000. Principal Securities Inc. increased its stake 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 buying an additional 211 shares during the period. GAMMA Investing LLC increased its stake 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 buying an additional 341 shares during the period. KBC Group NV increased its stake in shares of Avnet by 55.7% in the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after buying an additional 1,200 shares during the period. Finally, Longboard Asset Management LP acquired a new stake in shares of Avnet in the fourth quarter valued at about $207,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analysts Set New Price Targets

AVT has been the subject of several recent research reports. 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 note on Thursday, January 30th. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and cut their target price for the company from $58.00 to $48.00 in a research report on Thursday, January 30th.

Avnet Stock Up 0.8 %

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

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. Equities research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

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

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.