First Trust Advisors LP Acquires 6,433 Shares of Plantronics Inc (PLT)

First Trust Advisors LP boosted its position in shares of Plantronics Inc (NYSE:PLT) by 30.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,673 shares of the technology company’s stock after purchasing an additional 6,433 shares during the period. First Trust Advisors LP owned approximately 0.08% of Plantronics worth $1,394,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLT. C M Bidwell & Associates Ltd. purchased a new position in Plantronics during the fourth quarter worth about $195,000. ING Groep NV purchased a new position in Plantronics during the fourth quarter worth about $251,000. Quantbot Technologies LP raised its stake in Plantronics by 490.3% during the third quarter. Quantbot Technologies LP now owns 6,045 shares of the technology company’s stock worth $267,000 after purchasing an additional 5,021 shares during the period. Tiedemann Wealth Management LLC raised its stake in Plantronics by 8.8% during the third quarter. Tiedemann Wealth Management LLC now owns 26,321 shares of the technology company’s stock worth $293,000 after purchasing an additional 2,138 shares during the period. Finally, New Mexico Educational Retirement Board purchased a new position in Plantronics during the fourth quarter worth about $418,000. 94.09% of the stock is currently owned by institutional investors.

A number of brokerages have commented on PLT. Roth Capital lifted their target price on shares of Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. TheStreet downgraded shares of Plantronics from a “b” rating to a “c” rating in a research note on Friday, February 2nd. Sidoti downgraded shares of Plantronics from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research note on Thursday, February 1st. Finally, Northland Securities set a $60.00 target price on shares of Plantronics and gave the stock a “buy” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $60.00.

In other news, CEO Joseph B. Burton sold 5,117 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $57.51, for a total value of $294,278.67. Following the sale, the chief executive officer now directly owns 89,685 shares of the company’s stock, valued at approximately $5,157,784.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shantanu Sarkar sold 1,151 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $57.82, for a total transaction of $66,550.82. Following the completion of the sale, the insider now directly owns 17,564 shares in the company, valued at $1,015,550.48. The disclosure for this sale can be found here. Insiders sold a total of 8,799 shares of company stock worth $508,823 over the last three months. Insiders own 3.20% of the company’s stock.

Shares of Plantronics stock opened at $55.16 on Friday. The stock has a market cap of $1,873.73, a P/E ratio of 262.68, a PEG ratio of 1.50 and a beta of 1.39. Plantronics Inc has a 52 week low of $41.28 and a 52 week high of $60.49. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50.

Plantronics (NYSE:PLT) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.23. The business had revenue of $226.50 million for the quarter, compared to the consensus estimate of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. sell-side analysts anticipate that Plantronics Inc will post 2.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Tuesday, February 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, February 16th. Plantronics’s dividend payout ratio (DPR) is 285.73%.

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About Plantronics

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.

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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