35,840 Shares in Ubiquiti Inc. $UI Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new position in shares of Ubiquiti Inc. (NYSE:UI) during the second quarter, Holdings Channel reports. The fund bought 35,840 shares of the company’s stock, valued at approximately $19,140,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthspire Advisors LLC increased its stake in Ubiquiti by 3.3% in the 4th quarter. Wealthspire Advisors LLC now owns 506 shares of the company’s stock worth $280,000 after purchasing an additional 16 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ubiquiti by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,574 shares of the company’s stock valued at $1,700,000 after buying an additional 20 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Ubiquiti by 2.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,046 shares of the company’s stock valued at $579,000 after buying an additional 21 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Ubiquiti by 36.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 83 shares of the company’s stock worth $46,000 after buying an additional 22 shares during the period. Finally, Cherry Tree Wealth Management LLC boosted its holdings in shares of Ubiquiti by 50.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company’s stock worth $42,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Price Performance

NYSE:UI opened at $601.03 on Friday. The stock has a market cap of $36.38 billion, a PE ratio of 37.92 and a beta of 1.31. Ubiquiti Inc. has a fifty-two week low of $505.73 and a fifty-two week high of $1,099.99. The stock’s 50-day moving average is $553.37 and its two-hundred day moving average is $690.24.

Ubiquiti (NYSE:UI) last posted its quarterly earnings results on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.70. The business had revenue of $937.32 million during the quarter, compared to analyst estimates of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same period in the prior year, the firm earned $4.41 earnings per share. On average, equities research analysts anticipate that Ubiquiti Inc. will post 15.53 earnings per share for the current year.

Ubiquiti Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st will be paid a $1.00 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.00 annualized dividend and a yield of 0.7%. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s dividend payout ratio (DPR) is currently 20.19%.

Analysts Set New Price Targets

UI has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a report on Monday. BWS Financial reiterated a “buy” rating and set a $980.00 price objective on shares of Ubiquiti in a research report on Thursday. Weiss Ratings downgraded shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Zacks Research lowered Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $734.50.

About Ubiquiti

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.