Hound Partners LLC Takes $53.67 Million Position in National Instruments Corp (NATI)
Hound Partners LLC bought a new position in National Instruments Corp (NASDAQ:NATI) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,061,384 shares of the technology company’s stock, valued at approximately $53,674,000. National Instruments comprises about 1.4% of Hound Partners LLC’s investment portfolio, making the stock its 15th biggest position.
Several other hedge funds and other institutional investors have also bought and sold shares of NATI. Alliancebernstein L.P. grew its stake in shares of National Instruments by 3,081.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,000,276 shares of the technology company’s stock worth $83,271,000 after purchasing an additional 1,937,399 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of National Instruments by 313.3% in the first quarter. Prudential Financial Inc. now owns 489,658 shares of the technology company’s stock worth $24,762,000 after purchasing an additional 371,180 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of National Instruments in the fourth quarter worth about $12,739,000. American Century Companies Inc. grew its stake in shares of National Instruments by 10.6% in the first quarter. American Century Companies Inc. now owns 2,363,425 shares of the technology company’s stock worth $119,518,000 after purchasing an additional 226,238 shares during the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of National Instruments by 481.0% in the first quarter. Federated Investors Inc. PA now owns 248,734 shares of the technology company’s stock worth $12,578,000 after purchasing an additional 205,920 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.
In other National Instruments news, Director Jeffrey L. Kodosky sold 1,600 shares of National Instruments stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $50.78, for a total transaction of $81,248.00. Following the sale, the director now directly owns 369,571 shares of the company’s stock, valued at approximately $18,766,815.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James J. Truchard sold 200,000 shares of National Instruments stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $50.32, for a total value of $10,064,000.00. Following the sale, the director now directly owns 6,822,537 shares in the company, valued at $343,310,061.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 497,472 shares of company stock worth $24,707,983. Insiders own 7.98% of the company’s stock.
National Instruments opened at $43.41 on Thursday, MarketBeat.com reports. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 46.18 and a beta of 0.98. National Instruments Corp has a fifty-two week low of $38.37 and a fifty-two week high of $53.57.
National Instruments (NASDAQ:NATI) last posted its quarterly earnings data on Thursday, April 26th. The technology company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The business had revenue of $311.90 million for the quarter, compared to analysts’ expectations of $322.77 million. National Instruments had a return on equity of 11.50% and a net margin of 4.50%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. equities research analysts anticipate that National Instruments Corp will post 1.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Monday, May 14th were given a dividend of $0.23 per share. The ex-dividend date was Friday, May 11th. This represents a $0.92 annualized dividend and a yield of 2.12%. National Instruments’s payout ratio is 97.87%.
About National Instruments
National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.
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