Ontario Teachers Pension Plan Board Takes $417,000 Position in Plantronics Inc (PLT)
Ontario Teachers Pension Plan Board purchased a new stake in shares of Plantronics Inc (NYSE:PLT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,475 shares of the technology company’s stock, valued at approximately $417,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PLT. Ceredex Value Advisors LLC purchased a new stake in Plantronics during the first quarter worth about $52,342,000. BlackRock Inc. increased its holdings in Plantronics by 4.2% during the second quarter. BlackRock Inc. now owns 3,784,999 shares of the technology company’s stock worth $288,606,000 after buying an additional 152,066 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Plantronics by 26.3% during the first quarter. Lord Abbett & CO. LLC now owns 412,306 shares of the technology company’s stock worth $24,891,000 after buying an additional 85,857 shares during the last quarter. Mackay Shields LLC purchased a new stake in Plantronics during the first quarter worth about $5,023,000. Finally, 12th Street Asset Management Company LLC purchased a new stake in Plantronics during the first quarter worth about $4,709,000. Institutional investors and hedge funds own 79.64% of the company’s stock.
A number of analysts recently issued reports on the stock. TheStreet upgraded shares of Plantronics from a “c” rating to a “b-” rating in a report on Thursday, May 24th. Zacks Investment Research upgraded shares of Plantronics from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a report on Saturday, July 7th. ValuEngine upgraded shares of Plantronics from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Finally, Sidoti upgraded shares of Plantronics from a “neutral” rating to a “buy” rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $68.00.
Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, August 7th. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $221.31 million during the quarter, compared to analysts’ expectations of $207.79 million. Plantronics had a positive return on equity of 25.39% and a negative net margin of 0.60%. equities research analysts anticipate that Plantronics Inc will post 3.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 20th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 17th. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. Plantronics’s payout ratio is 22.14%.
In other news, CEO Joseph B. Burton sold 3,506 shares of Plantronics stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $76.36, for a total value of $267,718.16. Following the completion of the transaction, the chief executive officer now owns 113,574 shares in the company, valued at $8,672,510.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 3,599 shares of company stock valued at $274,339 in the last quarter. Corporate insiders own 1.70% of the company’s stock.
Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company also manufactures and markets specialty telephone products under the Clarity brand.
Featured Story: Risk Tolerance
Want to see what other hedge funds are holding PLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plantronics Inc (NYSE:PLT).
Receive News & Ratings for Plantronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics and related companies with MarketBeat.com's FREE daily email newsletter.