Coldstream Capital Management Inc. raised its stake in Plantronics, Inc. (NYSE:PLT) by 30.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,138 shares of the company’s stock after buying an additional 3,079 shares during the period. Coldstream Capital Management Inc.’s holdings in Plantronics were worth $719,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. LS Investment Advisors LLC increased its stake in shares of Plantronics by 5.8% in the third quarter. LS Investment Advisors LLC now owns 2,091 shares of the company’s stock valued at $109,000 after buying an additional 114 shares in the last quarter. Evercore Wealth Management LLC increased its stake in shares of Plantronics by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 4,300 shares of the company’s stock valued at $189,000 after buying an additional 300 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Plantronics during the second quarter valued at about $203,000. Teacher Retirement System of Texas increased its stake in shares of Plantronics by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,700 shares of the company’s stock valued at $207,000 after buying an additional 571 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Plantronics during the third quarter valued at about $221,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.
Plantronics, Inc. (NYSE:PLT) traded up 0.34% during midday trading on Friday, reaching $53.63. The company had a trading volume of 140,946 shares. The firm has a market capitalization of $1.73 billion, a P/E ratio of 23.20 and a beta of 1.57. The stock’s 50 day moving average price is $55.06 and its 200-day moving average price is $52.15. Plantronics, Inc. has a one year low of $34.56 and a one year high of $57.79.
Plantronics (NYSE:PLT) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by $0.03. The company earned $232.90 million during the quarter, compared to the consensus estimate of $232.26 million. Plantronics had a net margin of 8.62% and a return on equity of 23.07%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. On average, equities research analysts anticipate that Plantronics, Inc. will post $3.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Tuesday, February 21st will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $0.60 annualized dividend and a yield of 1.12%. Plantronics’s dividend payout ratio is currently 25.86%.
PLT has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded Plantronics from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Wednesday, November 2nd. Roth Capital set a $63.00 price target on Plantronics and gave the company a “buy” rating in a research report on Wednesday, February 1st. Finally, Zacks Investment Research downgraded Plantronics from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Plantronics currently has a consensus rating of “Hold” and an average target price of $57.00.
In other Plantronics news, insider S Kenneth Kannappan sold 20,000 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $54.13, for a total transaction of $1,082,600.00. Following the sale, the insider now directly owns 123,142 shares of the company’s stock, valued at approximately $6,665,676.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Dexheimer sold 2,270 shares of the business’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $52.89, for a total transaction of $120,060.30. Following the sale, the director now directly owns 18,384 shares in the company, valued at $972,329.76. The disclosure for this sale can be found here. Insiders sold a total of 41,794 shares of company stock worth $2,246,672 over the last ninety days. 4.20% of the stock is currently owned by insiders.
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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