Public Employees Retirement System of Ohio Takes Position in Ubiquiti Inc. $UI

Public Employees Retirement System of Ohio acquired a new position in shares of Ubiquiti Inc. (NYSE:UI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,209 shares of the company’s stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds have also bought and sold shares of UI. Diversify Advisory Services LLC bought a new stake in Ubiquiti during the 2nd quarter worth approximately $1,526,000. Militia Capital Management LLC bought a new position in shares of Ubiquiti during the first quarter valued at $1,581,000. Bank of America Corp DE raised its stake in shares of Ubiquiti by 22.3% during the first quarter. Bank of America Corp DE now owns 13,750 shares of the company’s stock valued at $10,867,000 after acquiring an additional 2,508 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Ubiquiti during the second quarter worth $12,832,000. Finally, Walleye Capital LLC acquired a new position in shares of Ubiquiti during the second quarter worth $27,413,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Stock Performance

NYSE:UI opened at $520.80 on Thursday. Ubiquiti Inc. has a 52 week low of $500.23 and a 52 week high of $1,099.99. The firm’s fifty day moving average is $558.48 and its 200-day moving average is $682.59. The firm has a market cap of $31.52 billion, a P/E ratio of 32.86 and a beta of 1.31.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, August 21st. The company reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.70. The business had revenue of $937.32 million during the quarter, compared to the consensus estimate of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same quarter last year, the firm earned $4.41 earnings per share. As a group, sell-side analysts anticipate that Ubiquiti Inc. will post 15.53 earnings per share for the current year.

Ubiquiti Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st were given a $1.00 dividend. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, August 31st. This represents a $4.00 annualized dividend and a dividend yield of 0.8%. Ubiquiti’s dividend payout ratio is 25.24%.

Analysts Set New Price Targets

UI has been the subject of a number of recent research reports. Weiss Ratings downgraded Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. BWS Financial reiterated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a research report on Thursday, August 27th. Zacks Research cut Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. Finally, Barclays lowered their price objective on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $734.50.

Ubiquiti Company Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, gateways, switches, security cameras, access-control systems and network management software.

The company markets its products through several technology platforms and brands, including UniFi for enterprise and small-business networking, and airMAX, LTU and related products for wireless internet service providers. Ubiquiti also offers consumer-focused networking products under the AmpliFi brand and operates software and services designed to help customers manage their networks.

Founded in 2003 by Robert Pera, Ubiquiti serves customers internationally through distributors, online channels and other sales partners.