Vestcor Inc Has $2.92 Million Stake in Ubiquiti Inc. $UI

Vestcor Inc trimmed its position in shares of Ubiquiti Inc. (NYSE:UI) by 31.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,414 shares of the company’s stock after selling 2,046 shares during the period. Vestcor Inc’s holdings in Ubiquiti were worth $2,916,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Private Advisor Group LLC bought a new position in shares of Ubiquiti during the third quarter valued at $408,000. PFG Advisors acquired a new position in shares of Ubiquiti during the 3rd quarter valued at $698,000. Diversify Advisory Services LLC boosted its position in shares of Ubiquiti by 28.4% during the 3rd quarter. Diversify Advisory Services LLC now owns 1,676 shares of the company’s stock worth $1,107,000 after purchasing an additional 371 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Ubiquiti in the third quarter valued at approximately $443,000. Finally, Blair William & Co. IL increased its stake in Ubiquiti by 50.5% during the 3rd quarter. Blair William & Co. IL now owns 1,117 shares of the company’s stock valued at $738,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Stock Up 2.3%

Shares of Ubiquiti stock opened at $769.87 on Wednesday. Ubiquiti Inc. has a 12-month low of $255.00 and a 12-month high of $803.59. The firm has a market cap of $46.59 billion, a PE ratio of 52.44 and a beta of 1.33. The company’s fifty day simple moving average is $640.78 and its two-hundred day simple moving average is $627.78.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, February 6th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.08 by $0.80. The business had revenue of $814.87 million during the quarter, compared to analyst estimates of $716.95 million. Ubiquiti had a net margin of 29.90% and a return on equity of 113.21%. The company’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. As a group, sell-side analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, February 17th. Ubiquiti’s payout ratio is currently 21.80%.

Analysts Set New Price Targets

Several analysts have recently commented on UI shares. Wall Street Zen upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, March 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a research note on Monday, December 29th. Zacks Research upgraded Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Barclays lifted their price target on Ubiquiti from $455.00 to $527.00 and gave the company an “underweight” rating in a research report on Friday, February 6th. Finally, BWS Financial reaffirmed a “buy” rating and set a $720.00 target price on shares of Ubiquiti in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ubiquiti currently has an average rating of “Moderate Buy” and an average target price of $615.67.

About Ubiquiti

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.