PNC Financial Services Group Inc. Acquires 751 Shares of Plexus Corp. (PLXS)
PNC Financial Services Group Inc. boosted its stake in Plexus Corp. (NASDAQ:PLXS) by 13.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,136 shares of the technology company’s stock after buying an additional 751 shares during the period. PNC Financial Services Group Inc.’s holdings in Plexus Corp. were worth $355,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in Plexus Corp. by 9.1% in the fourth quarter. State Street Corp now owns 817,047 shares of the technology company’s stock worth $44,154,000 after buying an additional 68,072 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Plexus Corp. by 40.4% in the first quarter. Bank of New York Mellon Corp now owns 594,199 shares of the technology company’s stock worth $34,344,000 after buying an additional 170,844 shares during the last quarter. Norges Bank acquired a new stake in shares of Plexus Corp. during the fourth quarter valued at about $22,421,000. Ameriprise Financial Inc. increased its stake in shares of Plexus Corp. by 11.9% in the first quarter. Ameriprise Financial Inc. now owns 337,760 shares of the technology company’s stock valued at $19,522,000 after buying an additional 35,999 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Plexus Corp. by 3.6% in the first quarter. Principal Financial Group Inc. now owns 272,343 shares of the technology company’s stock valued at $15,741,000 after buying an additional 9,459 shares during the period. 95.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Plexus Corp. (NASDAQ:PLXS) traded down 0.28% on Tuesday, reaching $52.54. The company had a trading volume of 75,500 shares. The company has a 50 day moving average of $52.94 and a 200-day moving average of $54.17. Plexus Corp. has a 52 week low of $44.35 and a 52 week high of $58.74. The company has a market capitalization of $1.76 billion, a P/E ratio of 17.74 and a beta of 0.93.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $618.80 million for the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. Analysts predict that Plexus Corp. will post $3.22 earnings per share for the current fiscal year.
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Several analysts recently issued reports on the company. ValuEngine downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Deutsche Bank AG boosted their target price on Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective (up previously from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.25.
In other news, Director Michael V. Schrock sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $51.37, for a total transaction of $256,850.00. Following the transaction, the director now owns 28,298 shares in the company, valued at approximately $1,453,668.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Steven J. Frisch sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $54.82, for a total transaction of $137,050.00. Following the transaction, the vice president now owns 20,478 shares in the company, valued at approximately $1,122,603.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,106 shares of company stock worth $4,373,206. 4.30% of the stock is currently owned by company insiders.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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