Franklin Resources Inc. Invests $4.72 Million in Ubiquiti Inc. (NYSE:UI)

Franklin Resources Inc. bought a new stake in Ubiquiti Inc. (NYSE:UI) in the fourth quarter, HoldingsChannel.com reports. The firm bought 14,209 shares of the company’s stock, valued at approximately $4,716,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ubiquiti by 926.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company’s stock valued at $37,609,000 after buying an additional 102,268 shares during the period. Vanguard Group Inc. raised its holdings in Ubiquiti by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 94,505 shares of the company’s stock valued at $31,369,000 after acquiring an additional 2,294 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Ubiquiti by 95.0% in the fourth quarter. Pacer Advisors Inc. now owns 61,825 shares of the company’s stock worth $20,522,000 after acquiring an additional 30,118 shares during the last quarter. Norges Bank purchased a new position in Ubiquiti in the fourth quarter worth approximately $16,166,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Ubiquiti in the 4th quarter valued at approximately $15,425,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total value of $347,990.00. Following the transaction, the chief accounting officer now directly owns 2,484 shares of the company’s stock, valued at $864,407.16. The trade was a 28.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 93.10% of the company’s stock.

Ubiquiti Stock Performance

Shares of Ubiquiti stock opened at $297.75 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $469.98. The firm’s 50 day moving average is $327.11 and its two-hundred day moving average is $322.67. The firm has a market capitalization of $18.01 billion, a P/E ratio of 40.45 and a beta of 1.31.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, February 14th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same period in the prior year, the business posted $1.36 EPS. Research analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Tuesday, February 18th. Ubiquiti’s payout ratio is currently 32.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UI. BWS Financial reaffirmed a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a research report on Friday, April 4th. Barclays decreased their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a report on Monday, February 10th.

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.