Rhumbline Advisers Has $3.78 Million Holdings in Plantronics Inc (PLT)
Rhumbline Advisers lessened its holdings in Plantronics Inc (NYSE:PLT) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 75,006 shares of the technology company’s stock after selling 8,186 shares during the period. Rhumbline Advisers’ holdings in Plantronics were worth $3,779,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new stake in Plantronics in the 4th quarter worth $195,000. ING Groep NV purchased a new stake in Plantronics in the 4th quarter worth $251,000. Quantbot Technologies LP increased its stake in Plantronics by 490.3% in the 3rd quarter. Quantbot Technologies LP now owns 6,045 shares of the technology company’s stock worth $267,000 after buying an additional 5,021 shares in the last quarter. New Mexico Educational Retirement Board purchased a new stake in Plantronics in the 4th quarter worth $418,000. Finally, Teacher Retirement System of Texas purchased a new stake in Plantronics in the 4th quarter worth $583,000. Institutional investors and hedge funds own 94.12% of the company’s stock.
A number of equities research analysts have issued reports on the company. Sidoti lowered Plantronics from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a research note on Thursday, February 1st. Roth Capital increased their price target on Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. TheStreet lowered Plantronics from a “b” rating to a “c” rating in a research note on Friday, February 2nd. Finally, Northland Securities set a $60.00 price objective on Plantronics and gave the company a “buy” rating in a research report on Friday, January 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Plantronics has an average rating of “Hold” and an average target price of $60.00.
Plantronics Inc (NYSE PLT) opened at $58.72 on Wednesday. The firm has a market capitalization of $1,947.16, a PE ratio of 279.63, a PEG ratio of 1.56 and a beta of 1.39. The company has a current ratio of 6.76, a quick ratio of 6.16 and a debt-to-equity ratio of 1.50. Plantronics Inc has a 12-month low of $41.28 and a 12-month high of $60.49.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, January 30th. The technology company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.23. The firm had revenue of $226.50 million during the quarter, compared to analyst estimates of $220.17 million. Plantronics had a return on equity of 22.22% and a net margin of 1.03%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. sell-side analysts forecast that Plantronics Inc will post 2.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. Plantronics’s payout ratio is 285.73%.
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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