Wedge Capital Management L L P NC trimmed its holdings in shares of National Instruments Corp (NASDAQ:NATI) by 35.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,432 shares of the technology company’s stock after selling 3,597 shares during the quarter. Wedge Capital Management L L P NC’s holdings in National Instruments were worth $270,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of NATI. Valeo Financial Advisors LLC grew its holdings in National Instruments by 261.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,027 shares of the technology company’s stock worth $43,000 after acquiring an additional 743 shares during the last quarter. FTB Advisors Inc. grew its holdings in National Instruments by 219.4% during the 2nd quarter. FTB Advisors Inc. now owns 1,495 shares of the technology company’s stock worth $62,000 after acquiring an additional 1,027 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new stake in National Instruments during the 2nd quarter worth approximately $120,000. Meeder Asset Management Inc. grew its holdings in National Instruments by 872.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,637 shares of the technology company’s stock worth $152,000 after acquiring an additional 3,263 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in National Instruments during the 3rd quarter worth approximately $157,000. 79.49% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Jeffrey L. Kodosky sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $41.21, for a total value of $82,420.00. Following the completion of the sale, the director now owns 343,910 shares in the company, valued at approximately $14,172,531.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 11,000 shares of company stock valued at $464,795. Company insiders own 1.79% of the company’s stock.
Shares of NASDAQ:NATI traded up $0.43 during trading on Friday, reaching $43.51. The stock had a trading volume of 484,700 shares, compared to its average volume of 626,493. The firm’s fifty day moving average is $41.35 and its 200 day moving average is $42.09. National Instruments Corp has a 52 week low of $38.01 and a 52 week high of $50.26. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 32.47 and a beta of 0.89.
National Instruments (NASDAQ:NATI) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. National Instruments had a net margin of 11.90% and a return on equity of 14.73%. The firm had revenue of $340.44 million for the quarter, compared to the consensus estimate of $338.95 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts predict that National Instruments Corp will post 1.26 earnings per share for the current year.
The company also recently announced a dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 7th. National Instruments’s payout ratio is 74.63%.
A number of equities research analysts have recently commented on NATI shares. BidaskClub raised shares of National Instruments from a “sell” rating to a “hold” rating in a research note on Wednesday. Susquehanna Bancshares started coverage on shares of National Instruments in a research note on Friday, October 18th. They issued a “neutral” rating and a $40.00 price objective on the stock. ValuEngine raised shares of National Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, Zacks Investment Research lowered shares of National Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. National Instruments currently has a consensus rating of “Hold” and an average price target of $45.00.
National Instruments Company Profile
National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.
Further Reading: Average Daily Trade Volume – ADTV
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