Hound Partners LLC Acquires Shares of 1,061,384 National Instruments Corp (NATI)

Hound Partners LLC acquired a new position in shares of National Instruments Corp (NASDAQ:NATI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,061,384 shares of the technology company’s stock, valued at approximately $53,674,000. National Instruments accounts for approximately 1.4% of Hound Partners LLC’s holdings, making the stock its 15th largest holding. Hound Partners LLC owned about 0.81% of National Instruments at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NATI. BlackRock Inc. grew its stake in National Instruments by 1.9% during the 1st quarter. BlackRock Inc. now owns 9,027,432 shares of the technology company’s stock valued at $456,517,000 after acquiring an additional 166,375 shares in the last quarter. American Century Companies Inc. grew its stake in National Instruments by 10.6% during the 1st quarter. American Century Companies Inc. now owns 2,363,425 shares of the technology company’s stock valued at $119,518,000 after acquiring an additional 226,238 shares in the last quarter. Alliancebernstein L.P. grew its stake in National Instruments by 3,081.3% during the 4th quarter. Alliancebernstein L.P. now owns 2,000,276 shares of the technology company’s stock valued at $83,271,000 after acquiring an additional 1,937,399 shares in the last quarter. King Luther Capital Management Corp grew its stake in National Instruments by 2.0% during the 4th quarter. King Luther Capital Management Corp now owns 1,980,530 shares of the technology company’s stock valued at $82,449,000 after acquiring an additional 39,080 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in National Instruments by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 967,667 shares of the technology company’s stock valued at $40,283,000 after acquiring an additional 95,730 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Shares of National Instruments opened at $43.41 on Thursday, according to Marketbeat Ratings. National Instruments Corp has a 52 week low of $38.37 and a 52 week high of $53.57. The company has a market capitalization of $5.71 billion, a P/E ratio of 46.18 and a beta of 0.98.

National Instruments (NASDAQ:NATI) last announced its quarterly earnings data on Thursday, April 26th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. National Instruments had a return on equity of 11.50% and a net margin of 4.50%. The firm had revenue of $311.90 million for the quarter, compared to analysts’ expectations of $322.77 million. During the same period last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. research analysts expect that National Instruments Corp will post 1.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 4th. Stockholders of record on Monday, May 14th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.12%. National Instruments’s dividend payout ratio (DPR) is currently 97.87%.

Several research firms have weighed in on NATI. ValuEngine cut National Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Zacks Investment Research raised National Instruments from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, March 20th. Robert W. Baird cut National Instruments from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Monday, April 2nd. Finally, BidaskClub raised National Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 3rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $52.33.

In other news, insider Scott Arthur Rust sold 6,372 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $41.45, for a total transaction of $264,119.40. Following the transaction, the insider now directly owns 32,025 shares of the company’s stock, valued at $1,327,436.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey L. Kodosky sold 1,600 shares of the firm’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $50.78, for a total value of $81,248.00. Following the transaction, the director now directly owns 369,571 shares in the company, valued at $18,766,815.38. The disclosure for this sale can be found here. Insiders have sold 497,472 shares of company stock worth $24,707,983 over the last ninety days. Insiders own 7.98% of the company’s stock.

About National Instruments

National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.

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Institutional Ownership by Quarter for National Instruments (NASDAQ:NATI)

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