The Manufacturers Life Insurance Company Makes New Investment in Ubiquiti Inc. $UI

The Manufacturers Life Insurance Company bought a new stake in Ubiquiti Inc. (NYSE:UI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 983 shares of the company’s stock, valued at approximately $525,000.

Other institutional investors have also modified their holdings of the company. Vision Retirement LLC acquired a new position in shares of Ubiquiti during the 1st quarter valued at about $25,000. Quarry LP acquired a new stake in Ubiquiti during the third quarter worth about $34,000. Compass Financial Management LLC purchased a new position in Ubiquiti during the second quarter worth about $35,000. CIBC Private Wealth Group LLC raised its stake in Ubiquiti by 238.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the period. Finally, Cherry Tree Wealth Management LLC boosted its holdings in Ubiquiti by 50.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company’s stock valued at $42,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Price Performance

Shares of UI stock opened at $578.00 on Monday. The firm has a market cap of $34.99 billion, a PE ratio of 36.47 and a beta of 1.31. The company has a 50-day moving average of $557.16 and a two-hundred day moving average of $685.70. Ubiquiti Inc. has a 1-year low of $505.73 and a 1-year high of $1,099.99.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.70. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. The business had revenue of $937.32 million for the quarter, compared to the consensus estimate of $850.50 million. During the same period in the previous year, the firm earned $4.41 EPS. Sell-side analysts anticipate that Ubiquiti Inc. will post 15.53 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 31st will be issued a $1.00 dividend. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, August 31st. This represents a $4.00 annualized dividend and a yield of 0.7%. Ubiquiti’s payout ratio is 25.24%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UI shares. Weiss Ratings cut shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Zacks Research cut Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. BWS Financial reiterated a “buy” rating and issued a $980.00 price objective on shares of Ubiquiti in a research report on Thursday, August 27th. Finally, Barclays cut their target price on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a research note on Monday, August 24th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $734.50.

Ubiquiti Company Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.