Littelfuse Inc. (LFUS) Position Increased by PineBridge Investments L.P.
PineBridge Investments L.P. increased its position in shares of Littelfuse Inc. (NASDAQ:LFUS) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,844 shares of the company’s stock after buying an additional 113 shares during the period. PineBridge Investments L.P.’s holdings in Littelfuse were worth $336,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Littelfuse by 3.4% in the second quarter. Vanguard Group Inc. now owns 1,796,354 shares of the company’s stock valued at $212,311,000 after buying an additional 59,564 shares during the period. Neuberger Berman Group LLC raised its position in Littelfuse by 9.6% in the second quarter. Neuberger Berman Group LLC now owns 1,435,443 shares of the company’s stock valued at $169,655,000 after buying an additional 126,050 shares during the period. Silvercrest Asset Management Group LLC raised its position in Littelfuse by 0.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,127,313 shares of the company’s stock valued at $138,783,000 after buying an additional 5,180 shares during the period. Victory Capital Management Inc. raised its position in Littelfuse by 4.4% in the second quarter. Victory Capital Management Inc. now owns 691,856 shares of the company’s stock valued at $81,771,000 after buying an additional 29,113 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in Littelfuse by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 564,648 shares of the company’s stock valued at $69,514,000 after buying an additional 7,575 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.
Littelfuse Inc. (NASDAQ:LFUS) opened at 125.99 on Wednesday. The firm has a 50 day moving average of $123.10 and a 200 day moving average of $119.02. Littelfuse Inc. has a one year low of $86.38 and a one year high of $130.40. The firm has a market capitalization of $2.83 billion, a PE ratio of 35.51 and a beta of 1.35.
Littelfuse (NASDAQ:LFUS) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.01. Littelfuse had a return on equity of 17.48% and a net margin of 8.66%. The business earned $271.90 million during the quarter, compared to analysts’ expectations of $271.13 million. During the same period in the previous year, the business posted $1.33 earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts forecast that Littelfuse Inc. will post $5.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 25th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Littelfuse’s previous quarterly dividend of $0.29. The ex-dividend date was Tuesday, August 23rd. Littelfuse’s payout ratio is currently 37.18%.
LFUS has been the subject of several research reports. Zacks Investment Research upgraded shares of Littelfuse from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Thursday, July 7th. Robert W. Baird raised their target price on shares of Littelfuse from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Finally, Oppenheimer Holdings Inc. raised their target price on shares of Littelfuse from $138.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 13th.
In other Littelfuse news, insider Mary S. Muchoney sold 1,996 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $126.75, for a total transaction of $252,993.00. Following the completion of the sale, the insider now directly owns 3,893 shares of the company’s stock, valued at approximately $493,437.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gordon Hunter sold 20,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $126.07, for a total value of $2,521,400.00. Following the sale, the chairman now directly owns 49,404 shares of the company’s stock, valued at $6,228,362.28. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
Littelfuse Company Profile
Littelfuse, Inc is a supplier of circuit protection products for the electronics, automotive and electrical industries. The Company operates through three segments: Electronics, Automotive and Industrial. Its Electronics segment provides circuit protection components to manufacturers of a range of electronic products, including mobile phones, computers, liquid-crystal-display televisions, telecommunications equipment, medical devices, lighting products and white goods.
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