Iron Horse Wealth Management LLC Purchases Shares of 132 Ubiquiti Inc. $UI

Iron Horse Wealth Management LLC purchased a new stake in Ubiquiti Inc. (NYSE:UI) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 132 shares of the company’s stock, valued at approximately $54,000.

Several other institutional investors also recently bought and sold shares of UI. AQR Capital Management LLC raised its holdings in Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock valued at $70,521,000 after acquiring an additional 132,816 shares during the last quarter. TD Asset Management Inc acquired a new position in Ubiquiti in the 1st quarter valued at $34,013,000. Epoch Investment Partners Inc. acquired a new position in Ubiquiti in the 1st quarter valued at $18,897,000. Pacer Advisors Inc. raised its holdings in Ubiquiti by 76.2% in the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock valued at $33,785,000 after acquiring an additional 47,109 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Ubiquiti by 37,116.4% in the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company’s stock valued at $12,697,000 after acquiring an additional 40,828 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Stock Performance

UI stock opened at $661.75 on Friday. Ubiquiti Inc. has a 1 year low of $220.41 and a 1 year high of $689.36. The firm has a market cap of $40.03 billion, a P/E ratio of 56.22 and a beta of 1.44. The stock has a 50-day simple moving average of $536.77 and a 200-day simple moving average of $428.41.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The business had revenue of $759.15 million during the quarter, compared to analyst estimates of $618.80 million. During the same quarter last year, the firm earned $1.74 earnings per share. On average, equities research analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, September 2nd. Ubiquiti’s payout ratio is 27.19%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ubiquiti in a research report on Saturday, September 27th. UBS Group set a $600.00 price objective on Ubiquiti in a report on Monday, August 25th. BWS Financial raised their price objective on Ubiquiti from $440.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Finally, Barclays raised their price objective on Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ubiquiti currently has a consensus rating of “Hold” and a consensus target price of $499.67.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.