36,637 Shares in Ubiquiti Inc. $UI Acquired by Nuveen LLC

Nuveen LLC bought a new position in Ubiquiti Inc. (NYSE:UI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 36,637 shares of the company’s stock, valued at approximately $11,363,000. Nuveen LLC owned about 0.06% of Ubiquiti as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in UI. TD Asset Management Inc acquired a new stake in Ubiquiti in the 1st quarter valued at approximately $34,013,000. Pacer Advisors Inc. grew its holdings in Ubiquiti by 76.2% in the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock valued at $33,785,000 after buying an additional 47,109 shares during the last quarter. AQR Capital Management LLC grew its holdings in Ubiquiti by 100.1% in the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company’s stock valued at $32,927,000 after buying an additional 49,616 shares during the last quarter. GAMMA Investing LLC grew its holdings in Ubiquiti by 37,116.4% in the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company’s stock valued at $12,697,000 after buying an additional 40,828 shares during the last quarter. Finally, Abacus FCF Advisors LLC grew its holdings in Ubiquiti by 654.4% in the 1st quarter. Abacus FCF Advisors LLC now owns 33,116 shares of the company’s stock valued at $10,271,000 after buying an additional 28,726 shares during the last quarter. Institutional investors own 4.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on UI. Barclays raised their target price on Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a report on Friday. BWS Financial reaffirmed a “buy” rating and issued a $440.00 target price on shares of Ubiquiti in a report on Friday, July 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $369.50.

Ubiquiti Trading Up 30.2%

Shares of UI stock opened at $508.5990 on Friday. The stock has a 50 day moving average of $423.25 and a two-hundred day moving average of $373.02. Ubiquiti Inc. has a 12 month low of $165.50 and a 12 month high of $514.00. The company has a market capitalization of $30.77 billion, a P/E ratio of 56.01 and a beta of 1.35.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, topping the consensus estimate of $2.23 by $1.31. The business had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a return on equity of 217.49% and a net margin of 23.65%.During the same quarter last year, the company earned $1.74 EPS. Sell-side analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be given a $0.80 dividend. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 0.6%. Ubiquiti’s payout ratio is presently 26.43%.

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.