Aperio Group LLC Has $773,000 Holdings in Plantronics, Inc. (PLT)
Aperio Group LLC raised its stake in Plantronics, Inc. (NYSE:PLT) by 67.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,485 shares of the technology company’s stock after purchasing an additional 7,017 shares during the quarter. Aperio Group LLC owned 0.05% of Plantronics worth $773,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in shares of Plantronics in the 2nd quarter valued at approximately $126,000. Riverhead Capital Management LLC lifted its holdings in shares of Plantronics by 85.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock valued at $136,000 after buying an additional 1,197 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Plantronics by 17.6% in the 2nd quarter. LS Investment Advisors LLC now owns 2,641 shares of the technology company’s stock valued at $138,000 after buying an additional 395 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Plantronics by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock valued at $173,000 after buying an additional 494 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Plantronics by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock valued at $201,000 after buying an additional 31 shares during the period. Institutional investors own 90.28% of the company’s stock.
Several analysts have recently commented on PLT shares. Northland Securities set a $57.00 price target on Plantronics and gave the company a “buy” rating in a report on Tuesday, July 25th. J P Morgan Chase & Co cut Plantronics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $63.00 to $60.00 in a report on Friday, July 28th. Zacks Investment Research cut Plantronics from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. TheStreet cut Plantronics from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Finally, Roth Capital set a $55.00 price target on Plantronics and gave the company a “buy” rating in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.33.
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Plantronics, Inc. (NYSE PLT) opened at $51.93 on Wednesday. The stock has a market capitalization of $1,693.32, a price-to-earnings ratio of 22.46, a P/E/G ratio of 1.56 and a beta of 1.24. Plantronics, Inc. has a 1-year low of $41.28 and a 1-year high of $58.27. The company has a current ratio of 6.44, a quick ratio of 5.90 and a debt-to-equity ratio of 1.27.
Plantronics declared that its board has authorized a share buyback program on Thursday, July 27th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 1.16%. Plantronics’s dividend payout ratio is presently 24.69%.
In related news, CEO Joseph B. Burton sold 3,188 shares of Plantronics stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.87, for a total transaction of $165,361.56. Following the completion of the transaction, the chief executive officer now directly owns 92,373 shares of the company’s stock, valued at $4,791,387.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Maria Martinez sold 2,874 shares of Plantronics stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.25, for a total value of $147,292.50. Following the transaction, the director now directly owns 7,389 shares of the company’s stock, valued at $378,686.25. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
Plantronics Company Profile
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.
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