Aviva PLC Has $482,000 Stock Position in Ubiquiti Inc. $UI

Aviva PLC lessened its stake in shares of Ubiquiti Inc. (NYSE:UI) by 39.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,171 shares of the company’s stock after selling 764 shares during the quarter. Aviva PLC’s holdings in Ubiquiti were worth $482,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Ubiquiti by 133.9% during the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock valued at $70,521,000 after acquiring an additional 132,816 shares in the last quarter. TD Asset Management Inc bought a new position in Ubiquiti in the first quarter valued at about $34,013,000. Epoch Investment Partners Inc. acquired a new stake in shares of Ubiquiti during the first quarter valued at about $18,897,000. Pacer Advisors Inc. boosted its stake in shares of Ubiquiti by 76.2% during the first quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock valued at $33,785,000 after purchasing an additional 47,109 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Ubiquiti during the first quarter worth about $11,363,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UI has been the subject of a number of research reports. BWS Financial reiterated a “buy” rating and issued a $720.00 price objective on shares of Ubiquiti in a report on Tuesday. Weiss Ratings raised shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, November 7th. Barclays lifted their price target on shares of Ubiquiti from $299.00 to $455.00 and gave the stock an “underweight” rating in a report on Tuesday. Zacks Research downgraded Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, UBS Group set a $600.00 target price on Ubiquiti in a report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $591.67.

Ubiquiti Stock Down 4.8%

UI stock opened at $556.55 on Friday. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 47.29 and a beta of 1.50. The company’s fifty day simple moving average is $674.65 and its 200 day simple moving average is $509.37. Ubiquiti Inc. has a 12-month low of $255.00 and a 12-month high of $803.59.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, November 7th. The company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.98. The firm had revenue of $733.77 million during the quarter, compared to the consensus estimate of $702.38 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%. Research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, November 17th. Ubiquiti’s payout ratio is presently 24.46%.

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.