Pinebridge Investments L.P. Takes Position in Ubiquiti Inc. (NYSE:UI)

Pinebridge Investments L.P. bought a new position in shares of Ubiquiti Inc. (NYSE:UI) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,971 shares of the company’s stock, valued at approximately $1,318,000.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Ubiquiti by 47.0% in the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Ubiquiti by 71.1% during the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock valued at $43,000 after purchasing an additional 54 shares during the last quarter. Blue Trust Inc. boosted its position in Ubiquiti by 78.8% in the fourth quarter. Blue Trust Inc. now owns 143 shares of the company’s stock valued at $47,000 after buying an additional 63 shares in the last quarter. Financial Perspectives Inc grew its stake in Ubiquiti by 152.2% during the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock worth $56,000 after buying an additional 102 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Ubiquiti by 30.2% during the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company’s stock worth $56,000 after buying an additional 39 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Price Performance

UI opened at $314.35 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The stock has a market capitalization of $19.02 billion, a P/E ratio of 42.71 and a beta of 1.31. The company’s 50 day simple moving average is $312.18 and its 200-day simple moving average is $329.37. Ubiquiti Inc. has a one year low of $106.99 and a one year high of $469.98.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data 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 return on equity of 296.82% and a net margin of 20.68%. During the same period last year, the business posted $1.36 EPS. Sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 annualized dividend and a yield of 0.76%. Ubiquiti’s dividend payout ratio is currently 32.61%.

Insiders Place Their Bets

In other news, CAO Kevin Radigan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was 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 in the company, valued at $864,407.16. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 93.10% of the company’s stock.

Analysts Set New Price Targets

UI has been the topic of a number of research analyst reports. Barclays decreased their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. BWS Financial restated a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a report on Friday, April 4th.

Ubiquiti Profile

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.