Truist Financial Corp Invests $291,000 in Ubiquiti Inc. (NYSE:UI)

Truist Financial Corp purchased a new stake in Ubiquiti Inc. (NYSE:UI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 877 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UI. Huntington National Bank lifted its position in shares of Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after buying an additional 91 shares during the last quarter. Blue Trust Inc. raised its stake in Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in Ubiquiti in the third quarter valued at $76,000. Principal Securities Inc. lifted its position in Ubiquiti by 89.3% in the fourth quarter. Principal Securities Inc. now owns 229 shares of the company’s stock valued at $76,000 after acquiring an additional 108 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in Ubiquiti by 34.9% in the fourth quarter. Raleigh Capital Management Inc. now owns 286 shares of the company’s stock valued at $95,000 after acquiring an additional 74 shares in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Kevin Radigan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total transaction of $347,990.00. Following the sale, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at $864,407.16. The trade was a 28.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 93.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on UI shares. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Barclays lowered their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Finally, BWS Financial reaffirmed a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a research note on Monday, February 10th.

Ubiquiti Stock Up 2.8 %

Shares of Ubiquiti stock opened at $332.15 on Thursday. The company has a market cap of $20.09 billion, a P/E ratio of 45.13 and a beta of 1.12. The firm has a fifty day moving average of $367.16 and a two-hundred day moving average of $301.80. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. Ubiquiti Inc. has a one year low of $104.24 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 net margin of 20.68% and a return on equity of 296.82%. During the same period in the prior year, the company earned $1.36 earnings per share. On average, analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.72%. Ubiquiti’s dividend payout ratio (DPR) is presently 32.61%.

Ubiquiti Company 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.