New York State Teachers Retirement System lowered its position in shares of Plantronics Inc. (NYSE:PLT) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,792 shares of the company’s stock after selling 6,586 shares during the period. New York State Teachers Retirement System’s holdings in Plantronics were worth $3,687,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PLT. Pacad Investment Ltd. raised its position in Plantronics by 70.6% in the first quarter. Pacad Investment Ltd. now owns 8,700 shares of the company’s stock worth $341,000 after buying an additional 3,600 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Plantronics by 61.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 46,985 shares of the company’s stock valued at $1,841,000 after buying an additional 17,865 shares during the period. Teachers Advisors Inc. raised its position in Plantronics by 13.6% in the first quarter. Teachers Advisors Inc. now owns 60,317 shares of the company’s stock valued at $2,364,000 after buying an additional 7,229 shares during the period. Prudential Financial Inc. raised its position in Plantronics by 72.0% in the first quarter. Prudential Financial Inc. now owns 337,305 shares of the company’s stock valued at $13,219,000 after buying an additional 141,178 shares during the period. Finally, BlackRock Inc. raised its position in Plantronics by 7.2% in the first quarter. BlackRock Inc. now owns 13,182 shares of the company’s stock valued at $517,000 after buying an additional 884 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.
Plantronics Inc. (NYSE:PLT) traded down 1.26% during trading on Friday, reaching $51.71. 86,923 shares of the company were exchanged. The firm has a 50-day moving average of $50.83 and a 200-day moving average of $45.30. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 25.62 and a beta of 1.59. Plantronics Inc. has a 52-week low of $32.13 and a 52-week high of $55.09.
Plantronics (NYSE:PLT) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The firm had revenue of $223.10 million for the quarter, compared to analyst estimates of $216.70 million. Plantronics had a net margin of 7.73% and a return on equity of 24.55%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. On average, equities analysts forecast that Plantronics Inc. will post $3.19 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. Plantronics’s payout ratio is 29.70%.
Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Plantronics from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $55.00 price target on shares of Plantronics and gave the stock a “buy” rating in a research report on Wednesday, August 3rd.
In other news, Director Brian S. Dexheimer sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $49.97, for a total transaction of $199,880.00. Following the transaction, the director now directly owns 18,384 shares in the company, valued at $918,648.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO S Kenneth Kannappan sold 9,600 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $50.84, for a total transaction of $488,064.00. Following the transaction, the chief executive officer now owns 165,255 shares in the company, valued at $8,401,564.20. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
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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