Keeley Teton Advisors LLC reduced its holdings in Plantronics (NYSE:PLT) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,780 shares of the technology company’s stock after selling 2,700 shares during the period. Keeley Teton Advisors LLC owned about 0.10% of Plantronics worth $1,651,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. C M Bidwell & Associates Ltd. purchased a new stake in Plantronics in the 4th quarter worth about $195,000. Tower Research Capital LLC TRC increased its position in Plantronics by 69.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,659 shares of the technology company’s stock worth $235,000 after purchasing an additional 1,904 shares during the last quarter. ING Groep NV acquired a new position in Plantronics in the 4th quarter worth about $251,000. Quantbot Technologies LP increased its position in Plantronics by 490.3% in the 3rd quarter. Quantbot Technologies LP now owns 6,045 shares of the technology company’s stock worth $267,000 after purchasing an additional 5,021 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in Plantronics in the 4th quarter worth about $277,000. 94.14% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have weighed in on PLT. ValuEngine raised Plantronics from a “hold” rating to a “buy” rating in a research report on Thursday. Sidoti raised Plantronics from a “neutral” rating to a “buy” rating in a research report on Thursday. Roth Capital upped their target price on Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. TheStreet lowered Plantronics from a “b” rating to a “c” rating in a research report on Friday, February 2nd. Finally, Northland Securities set a $60.00 target price on Plantronics and gave the stock a “buy” rating in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $60.00.
Shares of NYSE PLT traded down $1.93 during mid-day trading on Monday, reaching $58.44. 364,250 shares of the company traded hands, compared to its average volume of 191,430. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.16 and a current ratio of 6.76. The firm has a market cap of $1,996.77, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.60 and a beta of 1.23. Plantronics has a fifty-two week low of $41.28 and a fifty-two week high of $61.86.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, January 30th. The technology company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.23. The business had revenue of $226.50 million for the quarter, compared to analyst estimates of $220.17 million. Plantronics had a return on equity of 22.22% and a net margin of 1.03%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. equities research analysts forecast that Plantronics will post 2.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 16th. Plantronics’s dividend payout ratio is 24.19%.
In other news, CEO Joseph B. Burton sold 5,117 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.51, for a total transaction of $294,278.67. Following the transaction, the chief executive officer now owns 89,685 shares of the company’s stock, valued at approximately $5,157,784.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shantanu Sarkar sold 1,120 shares of the stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $60.00, for a total value of $67,200.00. Following the transaction, the insider now directly owns 15,807 shares in the company, valued at approximately $948,420. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,419 shares of company stock worth $606,473. 3.20% of the stock is currently owned by insiders.
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Plantronics Company Profile
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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