Venturi Wealth Management LLC Has $336,000 Stake in Avnet, Inc. (NASDAQ:AVT)

Venturi Wealth Management LLC increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 377.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,421 shares of the company’s stock after buying an additional 5,076 shares during the quarter. Venturi Wealth Management LLC’s holdings in Avnet were worth $336,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVT. Greenhaven Associates Inc. increased its holdings in Avnet by 1.0% in the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock valued at $207,336,000 after buying an additional 38,185 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Avnet by 11,848.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock worth $148,623,000 after acquiring an additional 2,816,889 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Avnet by 204.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock worth $37,489,000 after acquiring an additional 463,660 shares in the last quarter. FMR LLC increased its stake in Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after acquiring an additional 114,217 shares during the last quarter. Finally, Weiss Asset Management LP raised its position in Avnet by 35.7% during the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock valued at $13,829,000 after purchasing an additional 66,973 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

AVT has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, January 30th. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $52.51 on Friday. Avnet, Inc. has a one year low of $44.78 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 company has a market cap of $4.54 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.14 and a beta of 1.13. The firm has a 50 day simple moving average of $52.24 and a 200 day simple moving average of $53.24.

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

Avnet 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.