Lord Abbett & CO. LLC increased its holdings in Plantronics Inc (NYSE:PLT) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,128,303 shares of the technology company’s stock after buying an additional 13,146 shares during the period. Lord Abbett & CO. LLC’s holdings in Plantronics were worth $37,347,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PLT. Renaissance Technologies LLC boosted its position in shares of Plantronics by 77.8% in the 3rd quarter. Renaissance Technologies LLC now owns 1,266,700 shares of the technology company’s stock worth $76,382,000 after buying an additional 554,200 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Plantronics in the 4th quarter worth about $14,487,000. BlackRock Inc. boosted its position in shares of Plantronics by 5.4% in the 3rd quarter. BlackRock Inc. now owns 3,989,325 shares of the technology company’s stock worth $240,556,000 after buying an additional 204,326 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Plantronics by 119.5% in the 3rd quarter. AQR Capital Management LLC now owns 317,608 shares of the technology company’s stock worth $19,152,000 after buying an additional 172,891 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Plantronics in the 3rd quarter worth about $10,079,000. Institutional investors and hedge funds own 95.32% of the company’s stock.
In other news, Director Marvin Tseu sold 4,238 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $48.88, for a total transaction of $207,153.44. Following the completion of the transaction, the director now owns 24,876 shares of the company’s stock, valued at approximately $1,215,938.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Guido Jouret acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were bought at an average cost of $49.03 per share, with a total value of $73,545.00. Following the purchase, the director now owns 4,988 shares in the company, valued at $244,561.64. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by corporate insiders.
NYSE:PLT opened at $48.30 on Friday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 17.82 and a beta of 1.50. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.26 and a current ratio of 1.53. Plantronics Inc has a 12-month low of $30.90 and a 12-month high of $82.28.
Plantronics (NYSE:PLT) last released its earnings results on Tuesday, February 5th. The technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.70. The company had revenue of $530.60 million for the quarter, compared to analyst estimates of $507.87 million. Plantronics had a negative net margin of 7.32% and a positive return on equity of 20.15%. The firm’s quarterly revenue was up 134.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Analysts forecast that Plantronics Inc will post 3.87 earnings per share for the current year.
Plantronics declared that its board has approved a share buyback plan on Thursday, November 29th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 20th were issued a $0.15 dividend. The ex-dividend date was Tuesday, February 19th. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. Plantronics’s dividend payout ratio (DPR) is 22.14%.
Separately, Zacks Investment Research upgraded shares of Plantronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 9th.
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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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