Isthmus Partners LLC raised its stake in Plantronics Inc (NYSE:PLT) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,370 shares of the technology company’s stock after purchasing an additional 3,082 shares during the quarter. Isthmus Partners LLC’s holdings in Plantronics were worth $608,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dupont Capital Management Corp purchased a new position in shares of Plantronics in the 4th quarter valued at $166,000. Signition LP raised its stake in shares of Plantronics by 53.1% in the 4th quarter. Signition LP now owns 6,222 shares of the technology company’s stock valued at $206,000 after acquiring an additional 2,158 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Plantronics by 95.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the technology company’s stock valued at $218,000 after acquiring an additional 1,761 shares during the period. Paloma Partners Management Co purchased a new position in shares of Plantronics in the 3rd quarter valued at $230,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Plantronics in the 3rd quarter valued at $253,000. Institutional investors own 98.30% of the company’s stock.
In related news, insider Jeff Loebbaka sold 4,614 shares of Plantronics stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $45.02, for a total transaction of $207,722.28. Following the sale, the insider now owns 36,186 shares of the company’s stock, valued at approximately $1,629,093.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.
A number of brokerages have recently commented on PLT. Zacks Investment Research downgraded shares of Plantronics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 14th. ValuEngine downgraded shares of Plantronics from a “buy” rating to a “hold” rating in a research note on Monday, November 12th.
Shares of PLT stock opened at $44.11 on Friday. Plantronics Inc has a 52 week low of $30.90 and a 52 week high of $82.28. The company has a current ratio of 1.53, a quick ratio of 1.29 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $1.81 billion, a PE ratio of 14.82 and a beta of 1.39.
Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, February 5th. The technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.70. Plantronics had a negative net margin of 7.32% and a positive return on equity of 20.15%. The business had revenue of $530.60 million for the quarter, compared to the consensus estimate of $507.87 million. During the same quarter last year, the firm posted $1.02 EPS. The business’s revenue for the quarter was up 134.3% compared to the same quarter last year. On average, equities analysts expect that Plantronics Inc will post 1.87 earnings per share for the current year.
Plantronics announced that its board has initiated a stock buyback program on Thursday, November 29th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Wednesday, February 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, February 19th. Plantronics’s dividend payout ratio (DPR) is 22.14%.
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Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.
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