PNC Financial Services Group Inc. Trims Holdings in Ubiquiti Inc. (NYSE:UI)

PNC Financial Services Group Inc. lowered its stake in shares of Ubiquiti Inc. (NYSE:UI) by 40.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 904 shares of the company’s stock after selling 604 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ubiquiti were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in UI. SW Investment Management LLC boosted its stake in Ubiquiti by 17.3% during the 4th quarter. SW Investment Management LLC now owns 305,000 shares of the company’s stock valued at $42,566,000 after acquiring an additional 45,000 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Ubiquiti by 135.5% during the third quarter. Penserra Capital Management LLC now owns 43,083 shares of the company’s stock worth $6,259,000 after purchasing an additional 24,787 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Ubiquiti by 17.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,177 shares of the company’s stock worth $5,049,000 after purchasing an additional 5,267 shares in the last quarter. Hussman Strategic Advisors Inc. increased its holdings in Ubiquiti by 68.4% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 31,500 shares of the company’s stock valued at $4,396,000 after buying an additional 12,800 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Ubiquiti by 6.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 18,190 shares of the company’s stock worth $2,539,000 after buying an additional 1,160 shares during the last quarter. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Down 0.2 %

Shares of Ubiquiti stock opened at $148.19 on Friday. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 25.59 and a beta of 1.18. Ubiquiti Inc. has a twelve month low of $103.00 and a twelve month high of $189.33. The company has a current ratio of 3.95, a quick ratio of 1.84 and a debt-to-equity ratio of 32.43. The business’s 50 day simple moving average is $137.11 and its 200-day simple moving average is $127.31.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, May 10th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.51). Ubiquiti had a negative return on equity of 829.74% and a net margin of 18.30%. The company had revenue of $493.00 million during the quarter, compared to analyst estimates of $497.51 million. Equities research analysts forecast that Ubiquiti Inc. will post 5.71 earnings per share for the current year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, May 17th. Ubiquiti’s payout ratio is 41.45%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on UI shares. StockNews.com upgraded Ubiquiti from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. BWS Financial reissued a “buy” rating and set a $160.00 target price on shares of Ubiquiti in a report on Monday, May 13th. Finally, Barclays lifted their price target on shares of Ubiquiti from $93.00 to $108.00 and gave the company an “underweight” rating in a report on Monday, May 13th.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.