WealthBridge Capital Management LLC Sells 2,000 Shares of Preformed Line Products Company $PLPC

WealthBridge Capital Management LLC lessened its stake in shares of Preformed Line Products Company (NASDAQ:PLPC) by 26.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,611 shares of the technology company’s stock after selling 2,000 shares during the quarter. WealthBridge Capital Management LLC owned 0.11% of Preformed Line Products worth $2,285,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nykredit A S bought a new stake in shares of Preformed Line Products in the second quarter worth $30,000. Avalon Trust Co bought a new stake in Preformed Line Products in the second quarter valued at $82,000. Fifth Third Bancorp acquired a new stake in shares of Preformed Line Products in the first quarter valued at approximately $85,000. State of Wyoming acquired a new position in shares of Preformed Line Products during the second quarter valued at $165,000. Finally, Odyssean LLC bought a new stake in shares of Preformed Line Products during the 2nd quarter worth about $216,000. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Preformed Line Products

In other news, Director Glen E. Corlett sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total value of $914,040.00. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 33.00% of the company’s stock.

Preformed Line Products Stock Performance

PLPC stock traded down $16.77 during trading on Friday, reaching $352.91. 63,751 shares of the stock were exchanged, compared to its average volume of 73,661. Preformed Line Products Company has a twelve month low of $184.02 and a twelve month high of $504.69. The company has a current ratio of 2.99, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.73 billion, a P/E ratio of 39.74 and a beta of 0.90. The stock has a 50 day simple moving average of $414.48 and a 200-day simple moving average of $373.01.

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

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Thursday, October 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products’s dividend payout ratio is presently 9.46%.

Analysts Set New Price Targets

PLPC has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus price target of $275.00.

About Preformed Line Products

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

The company’s product portfolio includes formed-wire products for transmission and distribution lines, such as dead-end fittings, splices, suspension hardware, armor rods and vibration-control equipment.