Everence Capital Management Inc. Trims Stake in Plexus Corp. (NASDAQ:PLXS)

Everence Capital Management Inc. lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,420 shares of the technology company’s stock after selling 480 shares during the period. Everence Capital Management Inc.’s holdings in Plexus were worth $692,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Disciplined Growth Investors Inc. MN boosted its position in Plexus by 2.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after buying an additional 59,465 shares during the period. Earnest Partners LLC lifted its position in shares of Plexus by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after purchasing an additional 23,074 shares during the period. Geode Capital Management LLC boosted its stake in shares of Plexus by 0.8% during the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock valued at $89,392,000 after purchasing an additional 4,926 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Plexus by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock worth $57,678,000 after buying an additional 2,886 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Plexus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock worth $27,367,000 after buying an additional 7,483 shares during the period. Institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 1.7 %

NASDAQ:PLXS opened at $157.91 on Friday. The firm has a market capitalization of $4.28 billion, a P/E ratio of 39.38 and a beta of 0.91. The company’s fifty day moving average price is $159.55 and its 200-day moving average price is $135.65. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $170.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $1.44 EPS. The company’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that Plexus Corp. will post 6.14 EPS for the current year.

Analyst Ratings Changes

PLXS has been the topic of a number of analyst reports. Benchmark lifted their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC increased their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their price target on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, KeyCorp assumed coverage on shares of Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.25.

Insider Buying and Selling at Plexus

In other Plexus news, CFO Patrick John Jermain sold 5,045 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $143.13, for a total value of $722,090.85. Following the completion of the transaction, the chief financial officer now owns 24,602 shares in the company, valued at approximately $3,521,284.26. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total value of $234,585.00. Following the sale, the chief executive officer now owns 74,271 shares in the company, valued at $11,615,241.69. This trade represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,091 shares of company stock valued at $5,377,960. 1.76% of the stock is owned by company insiders.

Plexus Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.