Virginia Retirement Systems ET AL lifted its position in Zebra Technologies Co. (NASDAQ:ZBRA – Get Rating) by 19.9% in the first quarter, HoldingsChannel reports. The firm owned 56,600 shares of the industrial products company’s stock after buying an additional 9,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in Zebra Technologies were worth $23,415,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in ZBRA. Baldwin Brothers LLC MA purchased a new position in Zebra Technologies during the first quarter worth about $41,000. Commonwealth Equity Services LLC boosted its stake in shares of Zebra Technologies by 31.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,816 shares of the industrial products company’s stock valued at $4,652,000 after purchasing an additional 1,869 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Zebra Technologies by 57.8% in the first quarter. Pacer Advisors Inc. now owns 13,608 shares of the industrial products company’s stock valued at $5,630,000 after purchasing an additional 4,982 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Zebra Technologies in the fourth quarter valued at approximately $2,686,000. Finally, Boyd Watterson Asset Management LLC OH boosted its stake in shares of Zebra Technologies by 10.0% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 3,824 shares of the industrial products company’s stock valued at $2,276,000 after purchasing an additional 347 shares during the period. 85.30% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on ZBRA. TheStreet lowered shares of Zebra Technologies from a “b-” rating to a “c+” rating in a research note on Monday, June 27th. JPMorgan Chase & Co. raised shares of Zebra Technologies from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $530.00 to $500.00 in a research note on Monday, April 4th. UBS Group reduced their target price on shares of Zebra Technologies to $540.00 in a report on Friday, June 3rd. Needham & Company LLC reduced their target price on shares of Zebra Technologies from $535.00 to $500.00 in a report on Wednesday, May 4th. Finally, Morgan Stanley raised shares of Zebra Technologies from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $400.00 to $335.00 in a report on Monday, May 23rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $502.50.
Zebra Technologies (NASDAQ:ZBRA – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $3.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.28. Zebra Technologies had a net margin of 14.25% and a return on equity of 31.20%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company earned $4.47 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Zebra Technologies Co. will post 17.85 earnings per share for the current year.
Zebra Technologies declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Zebra Technologies Profile (Get Rating)
Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers, which produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers, which produce images which are used for personal identification, access control, and financial transactions; RFID printers that encode data into passive RFID transponders; accessories and options for our printers, including vehicle mounts and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.
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