Russell Investments Group Ltd. Boosts Stock Position in Plexus Corp. (NASDAQ:PLXS)

Posted by Defense World Staff on May 19th, 2023

Russell Investments Group Ltd. grew its holdings in Plexus Corp. (NASDAQ:PLXS – Get Rating) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,213 shares of the technology company’s stock after acquiring an additional 503 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Plexus worth $3,316,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Credit Agricole S A purchased a new stake in shares of Plexus in the third quarter valued at approximately $25,000. BDO Wealth Advisors LLC purchased a new stake in Plexus during the 3rd quarter worth about $27,000. Ronald Blue Trust Inc. increased its holdings in Plexus by 86.9% during the 4th quarter. Ronald Blue Trust Inc. now owns 815 shares of the technology company’s stock worth $71,000 after purchasing an additional 379 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in shares of Plexus by 553.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 837 shares of the technology company’s stock valued at $86,000 after acquiring an additional 709 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Plexus by 294.9% in the 3rd quarter. UBS Group AG now owns 924 shares of the technology company’s stock valued at $81,000 after acquiring an additional 690 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

Plexus Stock Up 0.6 %

PLXS opened at $87.47 on Friday. The stock’s 50 day moving average price is $91.78 and its 200 day moving average price is $99.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.59. The stock has a market cap of $2.41 billion, a P/E ratio of 14.46 and a beta of 1.11. Plexus Corp. has a 12 month low of $74.53 and a 12 month high of $115.36.

Plexus (NASDAQ:PLXS – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.29. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Plexus had a return on equity of 15.24% and a net margin of 4.00%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. As a group, research analysts predict that Plexus Corp. will post 5.48 earnings per share for the current year.

Insider Transactions at Plexus

In other news, EVP Ronnie Darroch sold 4,424 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $89.12, for a total value of $394,266.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLXS. JPMorgan Chase & Co. decreased their price objective on Plexus from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, January 27th. StockNews.com initiated coverage on Plexus in a research note on Thursday. They set a “hold” rating for the company. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Friday, January 27th. Finally, Needham & Company LLC decreased their target price on Plexus from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Plexus currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

About Plexus

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Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense market sectors.