Whittier Trust Co. of Nevada Inc. maintained its position in shares of Plantronics Inc. (NYSE:PLT) during the second quarter, Holdings Channel reports. The institutional investor owned 4,800 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Plantronics were worth $211,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Prudential Financial Inc. raised its position in shares of Plantronics by 72.0% in the first quarter. Prudential Financial Inc. now owns 337,305 shares of the company’s stock worth $13,219,000 after buying an additional 141,178 shares during the period. Spark Investment Management LLC acquired a new position in shares of Plantronics during the first quarter worth approximately $811,000. Nuveen Asset Management LLC raised its position in shares of Plantronics by 30.7% in the first quarter. Nuveen Asset Management LLC now owns 221,364 shares of the company’s stock worth $8,676,000 after buying an additional 52,047 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in shares of Plantronics during the first quarter worth approximately $152,000. Finally, BlackRock Group LTD raised its position in shares of Plantronics by 74.5% in the first quarter. BlackRock Group LTD now owns 39,842 shares of the company’s stock worth $1,561,000 after buying an additional 17,005 shares during the period. Institutional investors own 90.66% of the company’s stock.
Plantronics Inc. (NYSE:PLT) traded up 0.98% during mid-day trading on Wednesday, hitting $51.30. The stock had a trading volume of 62,459 shares. Plantronics Inc. has a one year low of $32.13 and a one year high of $55.09. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 25.42 and a beta of 1.59. The stock’s 50 day moving average price is $50.92 and its 200 day moving average price is $45.56.
Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The firm earned $223.10 million during the quarter, compared to the consensus estimate of $216.70 million. Plantronics had a return on equity of 24.55% and a net margin of 7.73%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. Analysts forecast that Plantronics Inc. will post $3.19 EPS for the current year.
PLT has been the subject of a number of research analyst reports. Zacks Investment Research lowered Plantronics from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. TheStreet upgraded Plantronics from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $55.00 price target on Plantronics and gave the stock a “buy” rating in a report on Wednesday, August 3rd.
In other Plantronics news, insider Joseph B. Burton sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $50.40, for a total value of $151,200.00. Following the completion of the transaction, the insider now directly owns 68,557 shares in the company, valued at $3,455,272.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO S Kenneth Kannappan sold 14,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $51.00, for a total value of $762,246.00. Following the completion of the transaction, the chief executive officer now owns 125,055 shares of the company’s stock, valued at $6,377,805. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.
Plantronics Company 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.
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