Ubiquiti Inc. $UI Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Ubiquiti Inc. (NYSE:UI) by 310.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,549 shares of the company’s stock after purchasing an additional 5,709 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ubiquiti were worth $3,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UI. Fox Run Management L.L.C. acquired a new position in shares of Ubiquiti during the 2nd quarter valued at $885,000. Convergence Financial LLC bought a new position in Ubiquiti during the second quarter valued at about $939,000. Hussman Strategic Advisors Inc. grew its holdings in Ubiquiti by 33.3% during the second quarter. Hussman Strategic Advisors Inc. now owns 16,800 shares of the company’s stock worth $6,916,000 after acquiring an additional 4,200 shares during the period. Amalgamated Bank raised its position in Ubiquiti by 42.4% in the second quarter. Amalgamated Bank now owns 373 shares of the company’s stock worth $154,000 after acquiring an additional 111 shares in the last quarter. Finally, Atria Investments Inc bought a new stake in Ubiquiti in the second quarter worth about $234,000. 4.00% of the stock is owned by institutional investors.

Ubiquiti Stock Performance

Ubiquiti stock opened at $585.31 on Thursday. Ubiquiti Inc. has a 52 week low of $255.00 and a 52 week high of $803.59. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 49.73 and a beta of 1.50. The company has a 50 day moving average price of $674.84 and a 200 day moving average price of $509.04.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, November 7th. The company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.98. The company had revenue of $733.77 million for the quarter, compared to the consensus estimate of $702.38 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. Equities analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 17th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, November 17th. Ubiquiti’s dividend payout ratio is 24.46%.

Wall Street Analyst Weigh In

UI has been the subject of several research reports. Zacks Research lowered shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Barclays increased their target price on shares of Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a research note on Tuesday. Weiss Ratings upgraded shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. UBS Group set a $600.00 price objective on Ubiquiti in a research report on Monday, August 25th. Finally, BWS Financial reissued a “buy” rating and set a $720.00 price objective on shares of Ubiquiti in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $591.67.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.