Nationwide Fund Advisors boosted its position in shares of Plantronics Inc. (NYSE:PLT) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 78,594 shares of the company’s stock after buying an additional 346 shares during the period. Nationwide Fund Advisors owned 0.24% of Plantronics worth $3,458,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLT. Fuller & Thaler Asset Management Inc. purchased a new position in Plantronics during the second quarter worth about $154,000. Invictus RG purchased a new position in Plantronics during the first quarter worth about $149,000. NN Investment Partners Holdings N.V. purchased a new position in Plantronics during the first quarter worth about $152,000. HBK Investments L P raised its position in Plantronics by 5.0% in the first quarter. HBK Investments L P now owns 8,400 shares of the company’s stock worth $329,000 after buying an additional 400 shares during the last quarter. Finally, Pacad Investment Ltd. raised its position in Plantronics by 70.6% in the first quarter. Pacad Investment Ltd. now owns 8,700 shares of the company’s stock worth $341,000 after buying an additional 3,600 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Plantronics Inc. (NYSE:PLT) traded down 0.74% during mid-day trading on Thursday, hitting $52.02. 29,712 shares of the stock were exchanged. The company’s 50-day moving average is $50.72 and its 200-day moving average is $45.15. Plantronics Inc. has a 1-year low of $32.13 and a 1-year high of $55.09. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 25.78 and a beta of 1.59.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Plantronics had a net margin of 7.73% and a return on equity of 24.55%. The firm had revenue of $223.10 million for the quarter, compared to analyst estimates of $216.70 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Plantronics Inc. will post $3.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, August 17th. Plantronics’s dividend payout ratio is currently 29.70%.
A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. set a $55.00 target price on shares of Plantronics and gave the company a “buy” rating in a research note on Wednesday, August 3rd. TheStreet raised shares of Plantronics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research lowered shares of Plantronics from a “buy” rating to a “hold” rating in a research note on Wednesday.
In other Plantronics news, CEO S Kenneth Kannappan sold 2,590 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $50.00, for a total transaction of $129,500.00. Following the sale, the chief executive officer now owns 137,687 shares of the company’s stock, valued at approximately $6,884,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph B. Burton sold 3,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $50.40, for a total transaction of $151,200.00. Following the sale, the insider now directly owns 68,557 shares in the company, valued at approximately $3,455,272.80. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
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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