The Manufacturers Life Insurance Company Has $3.84 Million Holdings in Plantronics, Inc. (PLT)

The Manufacturers Life Insurance Company boosted its holdings in Plantronics, Inc. (NYSE:PLT) by 1.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 73,430 shares of the technology company’s stock after buying an additional 924 shares during the period. The Manufacturers Life Insurance Company owned 0.23% of Plantronics worth $3,841,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLT. BlackRock Inc. increased its stake in Plantronics by 23,139.5% in the 1st quarter. BlackRock Inc. now owns 3,456,643 shares of the technology company’s stock worth $187,037,000 after buying an additional 3,441,769 shares in the last quarter. Renaissance Technologies LLC increased its stake in Plantronics by 223.7% in the 2nd quarter. Renaissance Technologies LLC now owns 296,500 shares of the technology company’s stock worth $15,510,000 after buying an additional 204,900 shares in the last quarter. Vanguard Group Inc. increased its stake in Plantronics by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,728,181 shares of the technology company’s stock worth $147,622,000 after buying an additional 107,289 shares in the last quarter. State Street Corp increased its stake in Plantronics by 9.0% in the 1st quarter. State Street Corp now owns 1,182,582 shares of the technology company’s stock worth $63,989,000 after buying an additional 97,473 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Plantronics by 16.4% in the 2nd quarter. Macquarie Group Ltd. now owns 473,522 shares of the technology company’s stock worth $24,770,000 after buying an additional 66,655 shares in the last quarter. Institutional investors and hedge funds own 91.07% of the company’s stock.

A number of brokerages have issued reports on PLT. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. BidaskClub lowered Plantronics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. J P Morgan Chase & Co lowered Plantronics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $63.00 to $60.00 in a research report on Friday, July 28th. TheStreet lowered Plantronics from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Finally, Northland Securities set a $57.00 price objective on Plantronics and gave the company a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Plantronics presently has an average rating of “Hold” and a consensus target price of $57.33.

Plantronics declared that its board has authorized a stock repurchase program on Thursday, July 27th 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. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 20th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. Plantronics’s dividend payout ratio (DPR) is presently 24.69%.

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Plantronics Profile

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

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Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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