Plantronics Inc (PLT) Holdings Reduced by SG Americas Securities LLC
SG Americas Securities LLC lowered its stake in Plantronics Inc (NYSE:PLT) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,458 shares of the technology company’s stock after selling 3,055 shares during the quarter. SG Americas Securities LLC’s holdings in Plantronics were worth $645,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. acquired a new position in Plantronics in the second quarter valued at about $242,000. Creative Planning acquired a new position in Plantronics in the second quarter valued at about $245,000. Sawtooth Solutions LLC acquired a new position in Plantronics in the first quarter valued at about $206,000. Hsbc Holdings PLC acquired a new position in Plantronics in the first quarter valued at about $214,000. Finally, Hartford Investment Management Co. acquired a new position in Plantronics in the second quarter valued at about $304,000. 79.64% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on PLT shares. TheStreet raised shares of Plantronics from a “c” rating to a “b-” rating in a research report on Thursday, May 24th. Zacks Investment Research raised shares of Plantronics from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Saturday, July 7th. ValuEngine raised shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. Finally, Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Plantronics presently has a consensus rating of “Buy” and an average target price of $68.00.
Shares of PLT opened at $63.40 on Friday. The stock has a market cap of $2.55 billion, a PE ratio of 23.23 and a beta of 1.10. Plantronics Inc has a 1 year low of $42.37 and a 1 year high of $82.28. The company has a debt-to-equity ratio of 1.32, a quick ratio of 6.86 and a current ratio of 7.40.
Plantronics (NYSE:PLT) last issued its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.07). The business had revenue of $221.31 million for the quarter, compared to analyst estimates of $207.79 million. Plantronics had a positive return on equity of 25.39% and a negative net margin of 0.60%. analysts predict that Plantronics Inc will post 3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Monday, August 20th were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 17th. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. Plantronics’s dividend payout ratio is presently 22.14%.
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.
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