Xact Kapitalforvaltning AB increased its stake in Plantronics Inc (NYSE:PLT) by 34.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,844 shares of the technology company’s stock after purchasing an additional 2,000 shares during the period. Xact Kapitalforvaltning AB’s holdings in Plantronics were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Plantronics by 95.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the technology company’s stock worth $218,000 after purchasing an additional 1,761 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Plantronics during the 3rd quarter valued at approximately $230,000. Signition LP acquired a new stake in Plantronics during the 3rd quarter valued at approximately $245,000. Capital Fund Management S.A. acquired a new stake in Plantronics during the 3rd quarter valued at approximately $253,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Plantronics during the 3rd quarter valued at approximately $259,000. Institutional investors own 99.27% of the company’s stock.
Shares of NYSE PLT opened at $49.62 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 2.32. Plantronics Inc has a 12 month low of $30.90 and a 12 month high of $82.28. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 18.31 and a beta of 1.39.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Wednesday, February 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, February 19th. Plantronics’s dividend payout ratio (DPR) is 22.14%.
Plantronics declared that its board has authorized a stock repurchase plan on Thursday, November 29th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several brokerages have commented on PLT. Zacks Investment Research upgraded shares of Plantronics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 9th. ValuEngine cut shares of Plantronics from a “buy” rating to a “hold” rating in a research note on Monday, November 12th.
In other news, insider Jeff Loebbaka sold 4,614 shares of Plantronics stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $45.02, for a total transaction of $207,722.28. Following the completion of the transaction, the insider now directly owns 36,186 shares of the company’s stock, valued at approximately $1,629,093.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brian S. Dexheimer bought 10,427 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were purchased at an average cost of $46.08 per share, with a total value of $480,476.16. Following the completion of the acquisition, the director now owns 29,027 shares in the company, valued at $1,337,564.16. The disclosure for this purchase can be found here. 1.70% of the stock is owned by insiders.
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Plantronics Company Profile
Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.
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