Preformed Line Products Company $PLPC Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC) by 138.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,027 shares of the technology company’s stock after acquiring an additional 5,820 shares during the period. Tidal Investments LLC’s holdings in Preformed Line Products were worth $4,115,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in Preformed Line Products during the second quarter worth about $394,000. Nykredit A S purchased a new stake in Preformed Line Products in the 2nd quarter valued at about $30,000. HighTower Advisors LLC grew its holdings in Preformed Line Products by 4.8% in the 2nd quarter. HighTower Advisors LLC now owns 1,014,731 shares of the technology company’s stock valued at $416,608,000 after buying an additional 46,664 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Preformed Line Products during the 2nd quarter valued at about $1,322,000. Finally, California State Teachers Retirement System increased its stake in shares of Preformed Line Products by 49,022.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,255,082 shares of the technology company’s stock valued at $515,286,000 after acquiring an additional 1,252,527 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on PLPC. Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Preformed Line Products currently has a consensus rating of “Strong Buy” and a consensus target price of $275.00.

Preformed Line Products Trading Down 6.0%

Shares of PLPC opened at $398.24 on Tuesday. Preformed Line Products Company has a 12 month low of $184.02 and a 12 month high of $504.69. The stock’s 50-day moving average is $389.15 and its two-hundred day moving average is $349.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88. The stock has a market cap of $1.95 billion, a PE ratio of 44.85 and a beta of 0.93.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $2.08. The business had revenue of $212.68 million during the quarter, compared to analyst estimates of $193.00 million. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.

Insider Transactions at Preformed Line Products

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total value of $914,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.00% of the stock is owned by company insiders.

Preformed Line Products Profile

Preformed Line Products Company (NASDAQ: PLPC) manufactures products and systems used to construct, maintain and improve overhead and underground networks. Its customers include electric utilities, telecommunications providers, cable operators and other infrastructure companies.

The company’s offerings include products for transmission and distribution lines, substation and utility applications, communications networks, broadband and data infrastructure, and renewable-energy installations.