Principal Securities Inc. Buys 108 Shares of Ubiquiti Inc. (NYSE:UI)

Principal Securities Inc. increased its stake in Ubiquiti Inc. (NYSE:UI) by 89.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 229 shares of the company’s stock after purchasing an additional 108 shares during the period. Principal Securities Inc.’s holdings in Ubiquiti were worth $76,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Ubiquiti by 95.0% in the fourth quarter. Pacer Advisors Inc. now owns 61,825 shares of the company’s stock worth $20,522,000 after purchasing an additional 30,118 shares during the period. Zacks Investment Management bought a new position in shares of Ubiquiti in the third quarter worth $8,892,000. JPMorgan Chase & Co. increased its position in shares of Ubiquiti by 20.4% in the third quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company’s stock worth $6,610,000 after purchasing an additional 5,045 shares during the period. Tidal Investments LLC increased its position in shares of Ubiquiti by 13.3% in the third quarter. Tidal Investments LLC now owns 18,505 shares of the company’s stock worth $4,103,000 after purchasing an additional 2,174 shares during the period. Finally, Barclays PLC increased its position in shares of Ubiquiti by 4,880.2% in the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after purchasing an additional 13,079 shares during the period. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Performance

Ubiquiti stock opened at $340.30 on Thursday. Ubiquiti Inc. has a 12-month low of $104.24 and a 12-month high of $469.98. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average price is $368.46 and its two-hundred day moving average price is $296.33. The stock has a market cap of $20.58 billion, a PE ratio of 46.24 and a beta of 1.14.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter in the previous year, the company earned $1.36 EPS. As a group, analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti’s dividend payout ratio (DPR) is currently 32.61%.

Wall Street Analyst Weigh In

UI has been the topic of a number of recent analyst reports. Barclays decreased their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Finally, BWS Financial reiterated a “buy” rating and issued a $440.00 target price on shares of Ubiquiti in a research report on Monday, February 10th.

Insider Transactions at Ubiquiti

In related news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the transaction, the chief accounting officer now directly owns 2,484 shares of the company’s stock, valued at $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 93.10% of the company’s stock.

About Ubiquiti

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.