Plantronics, Inc. (PLT) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan lowered its holdings in shares of Plantronics, Inc. (NYSE:PLT) by 21.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,160 shares of the technology company’s stock after selling 2,750 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Plantronics were worth $449,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Koch Industries Inc. boosted its stake in Plantronics by 6,554.8% during the second quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock valued at $244,000 after buying an additional 244,954 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Plantronics by 223.7% during the second quarter. Renaissance Technologies LLC now owns 296,500 shares of the technology company’s stock valued at $15,510,000 after buying an additional 204,900 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Plantronics by 16.4% during the second quarter. Macquarie Group Ltd. now owns 473,522 shares of the technology company’s stock valued at $24,770,000 after buying an additional 66,655 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Plantronics by 44.0% during the second quarter. Ameriprise Financial Inc. now owns 202,993 shares of the technology company’s stock valued at $10,619,000 after buying an additional 62,041 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Plantronics during the second quarter valued at approximately $2,884,000. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Plantronics, Inc. (PLT) traded down $0.08 during trading hours on Thursday, hitting $51.15. The stock had a trading volume of 192,500 shares, compared to its average volume of 164,477. The company has a market cap of $1,693.98, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30. Plantronics, Inc. has a 1-year low of $41.28 and a 1-year high of $58.27. The company has a debt-to-equity ratio of 1.27, a current ratio of 6.44 and a quick ratio of 5.90.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, November 17th. Plantronics’s payout ratio is 24.69%.

In other news, Director John Hart sold 21,083 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total value of $1,108,122.48. Following the completion of the sale, the director now directly owns 11,094 shares of the company’s stock, valued at approximately $583,100.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph B. Burton sold 3,188 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.87, for a total value of $165,361.56. Following the completion of the sale, the chief executive officer now directly owns 92,373 shares of the company’s stock, valued at $4,791,387.51. The disclosure for this sale can be found here. Insiders sold a total of 27,145 shares of company stock valued at $1,420,777 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

PLT has been the subject of a number of research reports. TheStreet lowered Plantronics from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Zacks Investment Research raised Plantronics from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Roth Capital set a $55.00 price objective on Plantronics and gave the company a “buy” rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $57.33.

TRADEMARK VIOLATION WARNING: This article was originally reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.com-unik.info/2017/12/07/plantronics-inc-plt-shares-sold-by-municipal-employees-retirement-system-of-michigan.html.

About Plantronics

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.

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

What are top analysts saying about Plantronics Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Plantronics Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit