PNC Financial Services Group Inc. Reduces Stake in Ubiquiti Inc. (NYSE:UI)

PNC Financial Services Group Inc. lessened its stake in shares of Ubiquiti Inc. (NYSE:UI) by 40.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 904 shares of the company’s stock after selling 604 shares during the period. PNC Financial Services Group Inc.’s holdings in Ubiquiti were worth $126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of UI. SW Investment Management LLC increased its stake in Ubiquiti by 17.3% during the fourth quarter. SW Investment Management LLC now owns 305,000 shares of the company’s stock worth $42,566,000 after acquiring an additional 45,000 shares during the last quarter. Penserra Capital Management LLC lifted its position in Ubiquiti by 135.5% in the third quarter. Penserra Capital Management LLC now owns 43,083 shares of the company’s stock valued at $6,259,000 after buying an additional 24,787 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ubiquiti by 17.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,177 shares of the company’s stock worth $5,049,000 after buying an additional 5,267 shares during the period. Hussman Strategic Advisors Inc. increased its position in shares of Ubiquiti by 68.4% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 31,500 shares of the company’s stock valued at $4,396,000 after acquiring an additional 12,800 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Ubiquiti by 6.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 18,190 shares of the company’s stock valued at $2,539,000 after acquiring an additional 1,160 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on UI. Barclays lifted their target price on shares of Ubiquiti from $93.00 to $108.00 and gave the company an “underweight” rating in a report on Monday, May 13th. StockNews.com upgraded Ubiquiti from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Finally, BWS Financial restated a “buy” rating and set a $160.00 target price on shares of Ubiquiti in a report on Monday, May 13th.

Ubiquiti Stock Performance

Shares of UI stock opened at $148.19 on Friday. The firm has a 50 day moving average of $137.11 and a two-hundred day moving average of $127.31. The stock has a market capitalization of $8.96 billion, a PE ratio of 25.59 and a beta of 1.18. The company has a quick ratio of 1.84, a current ratio of 3.95 and a debt-to-equity ratio of 32.43. Ubiquiti Inc. has a 52 week low of $103.00 and a 52 week high of $189.33.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, May 10th. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.51). Ubiquiti had a net margin of 18.30% and a negative return on equity of 829.74%. The company had revenue of $493.00 million during the quarter, compared to analysts’ expectations of $497.51 million. On average, research analysts predict that Ubiquiti Inc. will post 5.71 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were issued a $0.60 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.40 annualized dividend and a yield of 1.62%. Ubiquiti’s dividend payout ratio (DPR) is 41.45%.

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.