Public Employees Retirement System of Ohio Makes New $646,000 Investment in Ubiquiti Inc. $UI

Public Employees Retirement System of Ohio acquired a new position in shares of Ubiquiti Inc. (NYSE:UI) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,209 shares of the company’s stock, valued at approximately $646,000.

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

Wall Street Analysts Forecast Growth

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

Ubiquiti Price Performance

NYSE:UI opened at $520.80 on Thursday. Ubiquiti Inc. has a one year low of $500.23 and a one year high of $1,099.99. The company has a market cap of $31.52 billion, a PE ratio of 32.86 and a beta of 1.31. The firm has a 50-day moving average of $558.48 and a 200-day moving average of $682.59.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, August 21st. The company reported $4.73 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.70. The business had revenue of $937.32 million for the quarter, compared to analysts’ expectations 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 EPS. On average, equities research analysts expect that Ubiquiti Inc. will post 15.53 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

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

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.