Preformed Line Products Company $PLPC Stock: WealthBridge Capital Management LLC Reduces Stake

WealthBridge Capital Management LLC decreased its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC) by 26.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,611 shares of the technology company’s stock after selling 2,000 shares during the period. WealthBridge Capital Management LLC’s holdings in Preformed Line Products were worth $2,285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PLPC. HighTower Advisors LLC raised its stake in Preformed Line Products by 4.8% during the 2nd quarter. HighTower Advisors LLC now owns 1,014,731 shares of the technology company’s stock worth $416,608,000 after buying an additional 46,664 shares during the period. Wasatch Advisors LP lifted its stake in Preformed Line Products by 234.3% in the 2nd quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company’s stock valued at $154,932,000 after purchasing an additional 264,478 shares during the last quarter. BlackRock Inc. bought a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $93,241,000. First Trust Advisors LP boosted its holdings in shares of Preformed Line Products by 28.9% during the 1st quarter. First Trust Advisors LP now owns 21,144 shares of the technology company’s stock worth $5,725,000 after buying an additional 4,745 shares during the period. Finally, Ranger Investment Management L.P. acquired a new stake in Preformed Line Products during the 2nd quarter worth approximately $7,940,000. Institutional investors own 41.19% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $457.02, for a total value of $914,040.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 33.00% of the company’s stock.

Preformed Line Products Stock Down 4.5%

PLPC stock traded down $16.77 during midday trading on Friday, reaching $352.91. 63,751 shares of the company’s stock traded hands, compared to its average volume of 73,661. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a 52 week low of $184.02 and a 52 week high of $504.69. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 39.74 and a beta of 0.90. The firm’s fifty day moving average price is $414.48 and its 200-day moving average price is $373.01.

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

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Preformed Line Products’s dividend payout ratio (DPR) is currently 9.46%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLPC. Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Freedom Capital upgraded shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Preformed Line Products from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Strong Buy” and an average target price of $275.00.

Preformed Line Products Profile

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.