VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.32 Million in Preformed Line Products Company $PLPC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Preformed Line Products Company (NASDAQ:PLPC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,220 shares of the technology company’s stock, valued at approximately $1,322,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of Preformed Line Products at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in Preformed Line Products by 49,022.6% in the second quarter. California State Teachers Retirement System now owns 1,255,082 shares of the technology company’s stock valued at $515,286,000 after buying an additional 1,252,527 shares in the last quarter. Odyssean LLC purchased a new position in shares of Preformed Line Products in the 2nd quarter valued at about $216,000. Nykredit A S acquired a new stake in shares of Preformed Line Products during the 2nd quarter worth about $30,000. B. Metzler seel. Sohn & Co. AG raised its position in shares of Preformed Line Products by 285.3% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 8,083 shares of the technology company’s stock worth $3,319,000 after acquiring an additional 5,985 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its stake in Preformed Line Products by 35.6% during the second quarter. Susquehanna International Group LLP now owns 7,333 shares of the technology company’s stock worth $3,011,000 after purchasing an additional 1,924 shares during the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Freedom Capital raised Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, Preformed Line Products presently has a consensus rating of “Strong Buy” and a consensus price target of $275.00.

Preformed Line Products Trading Up 4.8%

NASDAQ:PLPC opened at $423.54 on Friday. The firm has a market cap of $2.07 billion, a P/E ratio of 47.70 and a beta of 0.93. The company has a current ratio of 2.99, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a 12-month low of $184.02 and a 12-month high of $504.69. The stock’s 50 day simple moving average is $388.54 and its 200-day simple moving average is $347.68.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, topping the consensus estimate of $2.41 by $2.08. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%. The company had revenue of $212.68 million during the quarter, compared to analysts’ expectations of $193.00 million.

Insider Transactions at Preformed Line Products

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of Preformed Line Products stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 33.00% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) manufactures products and systems used to construct, maintain and improve overhead and underground networks. Its customers include electric utilities, telecommunications providers, cable operators and other infrastructure companies.

The company’s offerings include products for transmission and distribution lines, substation and utility applications, communications networks, broadband and data infrastructure, and renewable-energy installations.