Sei Investments Co. Has $3.68 Million Holdings in Plantronics, Inc. (PLT)
Sei Investments Co. reduced its stake in shares of Plantronics, Inc. (NYSE:PLT) by 10.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 83,319 shares of the technology company’s stock after selling 10,169 shares during the period. Sei Investments Co. owned approximately 0.25% of Plantronics worth $3,684,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new stake in Plantronics during the 2nd quarter worth about $126,000. Riverhead Capital Management LLC grew its position in Plantronics by 85.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock worth $136,000 after purchasing an additional 1,197 shares during the period. LS Investment Advisors LLC grew its position in Plantronics by 17.6% during the 2nd quarter. LS Investment Advisors LLC now owns 2,641 shares of the technology company’s stock worth $138,000 after purchasing an additional 395 shares during the period. Victory Capital Management Inc. grew its position in Plantronics by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock worth $173,000 after purchasing an additional 494 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of Plantronics by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock worth $201,000 after acquiring an additional 31 shares in the last quarter. 90.99% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on PLT shares. Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Roth Capital set a $55.00 target price on shares of Plantronics and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, TheStreet lowered shares of Plantronics from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $57.33.
In other news, Director Maria Martinez sold 2,874 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $51.25, for a total transaction of $147,292.50. Following the sale, the director now directly owns 7,389 shares of the company’s stock, valued at approximately $378,686.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph B. Burton sold 3,188 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $51.87, for a total transaction of $165,361.56. Following the sale, the chief executive officer now directly owns 92,373 shares in the company, valued at $4,791,387.51. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.
Plantronics, Inc. (NYSE:PLT) traded up $1.06 during mid-day trading on Wednesday, hitting $52.78. 112,000 shares of the stock traded hands, compared to its average volume of 164,524. The company has a debt-to-equity ratio of 1.27, a quick ratio of 5.90 and a current ratio of 6.44. Plantronics, Inc. has a twelve month low of $41.28 and a twelve month high of $58.27. The stock has a market cap of $1,750.00, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.58 and a beta of 1.24.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, November 17th. Plantronics’s payout ratio is currently 24.59%.
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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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