LSV Asset Management Grows Stake in Plantronics Inc (PLT)

LSV Asset Management boosted its stake in Plantronics Inc (NYSE:PLT) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 595,194 shares of the technology company’s stock after purchasing an additional 14,900 shares during the period. LSV Asset Management owned about 1.80% of Plantronics worth $29,985,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. American International Group Inc. increased its holdings in Plantronics by 3.1% in the 3rd quarter. American International Group Inc. now owns 91,089 shares of the technology company’s stock valued at $4,028,000 after purchasing an additional 2,775 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Plantronics by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,762,404 shares of the technology company’s stock worth $144,502,000 after acquiring an additional 34,223 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Plantronics by 25.9% in the third quarter. Bessemer Group Inc. now owns 38,400 shares of the technology company’s stock worth $1,698,000 after acquiring an additional 7,900 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Plantronics by 9.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 282,324 shares of the technology company’s stock worth $14,768,000 after acquiring an additional 24,094 shares in the last quarter. Finally, Dean Investment Associates LLC acquired a new position in shares of Plantronics in the third quarter worth $2,968,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

A number of brokerages recently commented on PLT. Roth Capital boosted their target price on shares of Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. TheStreet downgraded shares of Plantronics from a “b” rating to a “c” rating in a research note on Friday, February 2nd. Sidoti cut shares of Plantronics from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Thursday, February 1st. Finally, Northland Securities set a $60.00 price target on shares of Plantronics and gave the company a “buy” rating in a research report on Friday, January 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $60.00.

In other Plantronics news, insider Shantanu Sarkar sold 1,151 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $57.82, for a total transaction of $66,550.82. Following the transaction, the insider now directly owns 17,564 shares in the company, valued at $1,015,550.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Hart sold 21,083 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the transaction, the director now owns 11,094 shares in the company, valued at $583,100.64. The disclosure for this sale can be found here. Insiders have sold 29,851 shares of company stock valued at $1,615,252 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Shares of Plantronics Inc (NYSE:PLT) traded up $0.79 during trading hours on Wednesday, hitting $56.59. 45,042 shares of the stock were exchanged, compared to its average volume of 181,759. Plantronics Inc has a 1-year low of $41.28 and a 1-year high of $60.49. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $1,870.00, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.36.

Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.23. The firm had revenue of $226.50 million during the quarter, compared to analysts’ expectations of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. equities research analysts forecast that Plantronics Inc will post 2.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Tuesday, February 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, February 16th. This represents a $0.60 annualized dividend and a yield of 1.06%. Plantronics’s dividend payout ratio is currently 25.21%.

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Plantronics Profile

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.

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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