Vestcor Inc Trims Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Vestcor Inc decreased its position in Benchmark Electronics, Inc. (NYSE:BHE) by 86.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,084 shares of the technology company’s stock after selling 12,970 shares during the period. Vestcor Inc’s holdings in Benchmark Electronics were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Benchmark Electronics by 55.2% during the 3rd quarter. Victory Capital Management Inc. now owns 39,439 shares of the technology company’s stock valued at $1,748,000 after buying an additional 14,020 shares during the last quarter. FMR LLC raised its stake in shares of Benchmark Electronics by 27.3% during the 3rd quarter. FMR LLC now owns 120,126 shares of the technology company’s stock valued at $5,324,000 after buying an additional 25,769 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Benchmark Electronics during the 4th quarter valued at about $868,000. Geode Capital Management LLC raised its stake in shares of Benchmark Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock valued at $37,307,000 after buying an additional 21,355 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Benchmark Electronics by 428.1% during the 3rd quarter. Algert Global LLC now owns 32,887 shares of the technology company’s stock valued at $1,458,000 after buying an additional 26,660 shares during the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Analyst Ratings Changes

BHE has been the subject of a number of recent research reports. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Needham & Company LLC lifted their price target on Benchmark Electronics from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling

In related news, CEO Jeff Benck sold 6,000 shares of Benchmark Electronics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total value of $232,920.00. Following the sale, the chief executive officer now directly owns 448,180 shares in the company, valued at approximately $17,398,347.60. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Benchmark Electronics Trading Down 1.7 %

BHE stock opened at $39.99 on Wednesday. The company has a current ratio of 2.32, a quick ratio of 1.46 and a debt-to-equity ratio of 0.24. Benchmark Electronics, Inc. has a 12-month low of $27.44 and a 12-month high of $52.57. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 23.11 and a beta of 0.97. The business’s 50-day moving average is $42.46 and its 200 day moving average is $44.43.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%.

Benchmark Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 31st. Benchmark Electronics’s payout ratio is 39.31%.

Benchmark Electronics Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.