Rhumbline Advisers lifted its holdings in Plantronics, Inc. (NYSE:PLT) by 11.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,192 shares of the technology company’s stock after purchasing an additional 8,390 shares during the quarter. Rhumbline Advisers owned about 0.25% of Plantronics worth $3,679,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of PLT. Koch Industries Inc. lifted its position in Plantronics by 6,554.8% during the 2nd quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock worth $244,000 after acquiring an additional 244,954 shares during the period. Renaissance Technologies LLC lifted its position in Plantronics by 223.7% during the 2nd quarter. Renaissance Technologies LLC now owns 296,500 shares of the technology company’s stock worth $15,510,000 after acquiring an additional 204,900 shares during the period. Macquarie Group Ltd. lifted its position in Plantronics by 16.4% during the 2nd quarter. Macquarie Group Ltd. now owns 473,522 shares of the technology company’s stock worth $24,770,000 after acquiring an additional 66,655 shares during the period. Ameriprise Financial Inc. lifted its position in Plantronics by 44.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 202,993 shares of the technology company’s stock worth $10,619,000 after acquiring an additional 62,041 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Plantronics during the 2nd quarter worth about $2,884,000. 90.90% of the stock is owned by institutional investors.
A number of analysts have commented on the company. TheStreet raised Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Roth Capital set a $55.00 price target on Plantronics and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised Plantronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.33.
Shares of Plantronics, Inc. (NYSE:PLT) traded down $0.08 during mid-day trading on Thursday, hitting $51.15. The stock had a trading volume of 192,500 shares, compared to its average volume of 164,477. The firm has a market cap of $1,693.98, a PE ratio of 22.47, a PEG ratio of 1.56 and a beta of 1.30. The company has a current ratio of 6.44, a quick ratio of 5.90 and a debt-to-equity ratio of 1.27. Plantronics, Inc. has a fifty-two week low of $41.28 and a fifty-two week high of $58.27.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. Plantronics’s dividend payout ratio (DPR) is presently 24.69%.
In other news, CEO Joseph B. Burton sold 3,188 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $51.87, for a total value of $165,361.56. Following the completion of the transaction, the chief executive officer now owns 92,373 shares of the company’s stock, valued at approximately $4,791,387.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Hart sold 21,083 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total value of $1,108,122.48. Following the completion of the transaction, the director now directly owns 11,094 shares of the company’s stock, valued at approximately $583,100.64. The disclosure for this sale can be found here. In the last three months, insiders sold 27,145 shares of company stock valued at $1,420,777. Insiders own 3.20% of the company’s stock.
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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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