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

VIRGINIA RETIREMENT SYSTEMS ET Al acquired 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 SEC. The firm acquired 3,220 shares of the technology company’s stock, valued at approximately $1,322,000.

Several other institutional investors have also recently added to or reduced their stakes in PLPC. Quantinno Capital Management LP grew its holdings in shares of Preformed Line Products by 65.7% during the first quarter. Quantinno Capital Management LP now owns 7,748 shares of the technology company’s stock worth $2,098,000 after buying an additional 3,072 shares in the last quarter. Robotti Robert acquired a new position in shares of Preformed Line Products in the second quarter valued at approximately $2,437,000. Wasatch Advisors LP lifted its stake in shares of Preformed Line Products by 234.3% during the second quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company’s stock valued at $154,932,000 after buying an additional 264,478 shares during the period. Deutsche Bank AG purchased a new position in shares of Preformed Line Products during the second quarter valued at approximately $1,251,000. Finally, Ranger Investment Management L.P. acquired a new stake in Preformed Line Products during the first quarter worth approximately $5,069,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Wall Street Analyst Weigh In

PLPC has been the subject of several recent analyst reports. Weiss Ratings raised shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Freedom Capital upgraded Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research 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 company. According to data from MarketBeat, the stock has an average rating of “Strong Buy” and a consensus price target of $275.00.

Insider Transactions at Preformed Line Products

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

Preformed Line Products Price Performance

PLPC opened at $423.54 on Friday. The company’s 50 day simple moving average is $388.54 and its 200 day simple moving average is $347.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.99. Preformed Line Products Company has a 1 year low of $184.02 and a 1 year high of $504.69. The stock has a market capitalization of $2.07 billion, a PE ratio of 47.70 and a beta of 0.93.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly 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. The firm had revenue of $212.68 million during the quarter, compared to analyst estimates of $193.00 million. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%.

Preformed Line Products Profile

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.