Sei Investments Co. Reduces Stake in Plantronics Inc (NYSE:PLT)

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Sei Investments Co. trimmed its position in shares of Plantronics Inc (NYSE:PLT) by 50.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,313 shares of the technology company’s stock after selling 42,202 shares during the quarter. Sei Investments Co. owned 0.12% of Plantronics worth $2,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Plantronics by 7.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock worth $15,689,000 after purchasing an additional 22,414 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Plantronics during the 4th quarter worth about $583,000. California Public Employees Retirement System boosted its holdings in shares of Plantronics by 6.0% during the 4th quarter. California Public Employees Retirement System now owns 126,857 shares of the technology company’s stock worth $6,391,000 after buying an additional 7,136 shares during the period. Swiss National Bank boosted its holdings in shares of Plantronics by 2.9% during the 4th quarter. Swiss National Bank now owns 56,400 shares of the technology company’s stock worth $2,841,000 after buying an additional 1,600 shares during the period. Finally, New Mexico Educational Retirement Board bought a new stake in shares of Plantronics during the 4th quarter worth about $418,000. 92.39% of the stock is currently owned by institutional investors.

In related news, Director Greggory C. Hammann sold 2,000 shares of Plantronics stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $73.20, for a total value of $146,400.00. Following the transaction, the director now directly owns 18,634 shares of the company’s stock, valued at $1,364,008.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pamela J. Strayer sold 3,903 shares of the business’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $66.29, for a total transaction of $258,729.87. Following the transaction, the insider now directly owns 47,300 shares in the company, valued at $3,135,517. The disclosure for this sale can be found here. Insiders sold 9,996 shares of company stock valued at $673,269 over the last 90 days. 1.70% of the stock is owned by company insiders.

A number of analysts have issued reports on the stock. TheStreet raised shares of Plantronics from a “c” rating to a “b-” rating in a report on Thursday, May 24th. ValuEngine upgraded shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. Finally, Sidoti upgraded shares of Plantronics from a “neutral” rating to a “buy” rating in a research report on Thursday, March 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $60.00.

Shares of PLT stock opened at $76.25 on Friday. The stock has a market capitalization of $3.82 billion, a PE ratio of 28.14 and a beta of 1.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 7.17 and a quick ratio of 6.62. Plantronics Inc has a one year low of $41.28 and a one year high of $78.17.

Plantronics (NYSE:PLT) last posted its quarterly earnings data on Tuesday, May 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.25. The business had revenue of $216.10 million during the quarter, compared to the consensus estimate of $208.49 million. Plantronics had a negative net margin of 0.10% and a positive return on equity of 24.88%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 earnings per share. equities research analysts anticipate that Plantronics Inc will post 2.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 18th were given a $0.15 dividend. The ex-dividend date was Thursday, May 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. Plantronics’s dividend payout ratio (DPR) is currently 22.14%.

About Plantronics

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 also manufactures and markets specialty telephone products under the Clarity brand.

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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