PNC Financial Services Group Inc. reduced its position in Plantronics Inc (NYSE:PLT) by 87.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 948 shares of the technology company’s stock after selling 6,369 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Plantronics were worth $31,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLT. Renaissance Technologies LLC raised its stake in Plantronics by 77.8% in the 3rd quarter. Renaissance Technologies LLC now owns 1,266,700 shares of the technology company’s stock valued at $76,382,000 after purchasing an additional 554,200 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in Plantronics in the 4th quarter valued at $14,487,000. BlackRock Inc. grew its holdings in Plantronics by 5.4% in the 3rd quarter. BlackRock Inc. now owns 3,989,325 shares of the technology company’s stock valued at $240,556,000 after buying an additional 204,326 shares in the last quarter. AQR Capital Management LLC grew its holdings in Plantronics by 119.5% in the 3rd quarter. AQR Capital Management LLC now owns 317,608 shares of the technology company’s stock valued at $19,152,000 after buying an additional 172,891 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Plantronics in the 3rd quarter valued at $10,079,000. 97.20% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:PLT opened at $47.60 on Tuesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.53 and a quick ratio of 1.26. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.56 and a beta of 1.49. Plantronics Inc has a 52-week low of $30.90 and a 52-week high of $82.28.
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 20th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, February 19th. Plantronics’s payout ratio is 22.14%.
Several analysts have issued reports on PLT shares. Zacks Investment Research upgraded Plantronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 9th. Northland Securities restated a “buy” rating and issued a $85.00 target price on shares of Plantronics in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $65.00.
In related news, Director Guido Jouret purchased 1,500 shares of Plantronics stock in a transaction on Tuesday, February 19th. The shares were bought at an average price of $49.03 per share, with a total value of $73,545.00. Following the transaction, the director now directly owns 4,988 shares of the company’s stock, valued at $244,561.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Dexheimer purchased 10,427 shares of Plantronics stock in a transaction on Tuesday, February 12th. The stock was bought at an average cost of $46.08 per share, for a total transaction of $480,476.16. Following the transaction, the director now directly owns 29,027 shares in the company, valued at $1,337,564.16. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by corporate insiders.
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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