Thrivent Financial for Lutherans lowered its stake in shares of Plantronics Inc (NYSE:PLT) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,145 shares of the technology company’s stock after selling 8,709 shares during the period. Thrivent Financial for Lutherans owned about 0.27% of Plantronics worth $5,382,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in PLT. C M Bidwell & Associates Ltd. purchased a new stake in Plantronics during the fourth quarter worth about $195,000. Sawtooth Solutions LLC purchased a new stake in Plantronics during the first quarter worth about $206,000. Tower Research Capital LLC TRC boosted its holdings in Plantronics by 69.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,659 shares of the technology company’s stock worth $235,000 after buying an additional 1,904 shares in the last quarter. LPL Financial LLC purchased a new stake in Plantronics during the fourth quarter worth about $240,000. Finally, ING Groep NV purchased a new stake in Plantronics during the fourth quarter worth about $251,000. 92.39% of the stock is currently owned by hedge funds and other institutional investors.
In other Plantronics news, Director Brian S. Dexheimer sold 500 shares of the company’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $60.90, for a total value of $30,450.00. Following the sale, the director now owns 15,502 shares of the company’s stock, valued at $944,071.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marshall Mohr sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $66.53, for a total transaction of $199,590.00. Following the completion of the sale, the director now directly owns 24,039 shares in the company, valued at approximately $1,599,314.67. The disclosure for this sale can be found here. Insiders sold 9,616 shares of company stock worth $623,927 in the last ninety days. Insiders own 3.20% of the company’s stock.
A number of research firms recently commented on PLT. ValuEngine raised shares of Plantronics from a “hold” rating to a “buy” rating in a report on Wednesday. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating in a report on Thursday, March 29th. Roth Capital boosted their price objective on shares of Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, TheStreet downgraded shares of Plantronics from a “b” rating to a “c” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.00.
PLT stock opened at $73.75 on Friday. The stock has a market cap of $3.58 billion, a P/E ratio of 26.53 and a beta of 1.23. Plantronics Inc has a 52 week low of $41.28 and a 52 week high of $73.92. The company has a current ratio of 7.17, a quick ratio of 6.62 and a debt-to-equity ratio of 1.40.
Plantronics (NYSE:PLT) last announced its quarterly earnings results on Tuesday, May 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.25. Plantronics had a negative net margin of 0.10% and a positive return on equity of 24.88%. The company had revenue of $216.10 million for the quarter, compared to the consensus estimate of $208.49 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts predict that Plantronics Inc will post 2.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, May 18th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, May 17th. Plantronics’s dividend payout ratio (DPR) 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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