Plantronics Inc. (PLT) Stake Lowered by Whittier Trust Co.
Whittier Trust Co. decreased its position in shares of Plantronics Inc. (NYSE:PLT) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,345 shares of the company’s stock after selling 465 shares during the period. Whittier Trust Co.’s holdings in Plantronics were worth $1,643,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Plantronics during the second quarter worth approximately $911,000. Old Mutual Global Investors UK Ltd. increased its position in shares of Plantronics by 14.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 18,253 shares of the company’s stock worth $803,000 after buying an additional 2,294 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Plantronics by 3.5% in the second quarter. Eagle Asset Management Inc. now owns 72,172 shares of the company’s stock worth $3,175,000 after buying an additional 2,423 shares in the last quarter. Eqis Capital Management Inc. increased its position in shares of Plantronics by 3.4% in the second quarter. Eqis Capital Management Inc. now owns 15,339 shares of the company’s stock worth $675,000 after buying an additional 503 shares in the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of Plantronics during the second quarter worth $8,262,000. 90.60% of the stock is owned by institutional investors.
Plantronics Inc. (NYSE:PLT) traded down 1.26% during trading on Friday, reaching $51.71. The company had a trading volume of 86,923 shares. The company has a market capitalization of $1.67 billion, a PE ratio of 25.62 and a beta of 1.59. The company has a 50 day moving average price of $50.83 and a 200 day moving average price of $45.30. Plantronics Inc. has a 52-week low of $32.13 and a 52-week high of $55.09.
Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.06. Plantronics had a return on equity of 24.55% and a net margin of 7.73%. The firm had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $216.70 million. During the same quarter last year, the business earned $0.67 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that Plantronics Inc. will post $3.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, August 17th. Plantronics’s dividend payout ratio (DPR) is currently 29.70%.
A number of equities analysts have recently weighed in on PLT shares. Zacks Investment Research downgraded Plantronics from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. set a $55.00 target price on Plantronics and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, TheStreet upgraded Plantronics from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd.
In other Plantronics news, CEO S Kenneth Kannappan sold 14,946 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $51.00, for a total transaction of $762,246.00. Following the transaction, the chief executive officer now owns 125,055 shares in the company, valued at $6,377,805. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian S. Dexheimer sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $49.97, for a total value of $199,880.00. Following the transaction, the director now owns 18,384 shares in the company, valued at approximately $918,648.48. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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