Plexus Corp. $PLXS Stock Holdings Lessened by Boston Trust Walden Corp

Boston Trust Walden Corp trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 6.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 194,818 shares of the technology company’s stock after selling 13,206 shares during the period. Boston Trust Walden Corp owned approximately 0.73% of Plexus worth $50,838,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Plexus in the second quarter worth about $1,311,631,000. Congress Asset Management Co. boosted its holdings in Plexus by 204.0% during the third quarter. Congress Asset Management Co. now owns 315,396 shares of the technology company’s stock valued at $82,303,000 after purchasing an additional 211,663 shares in the last quarter. Bank of America Corp DE acquired a new stake in Plexus during the second quarter valued at approximately $60,281,000. Bank of New York Mellon Corp bought a new stake in shares of Plexus in the 2nd quarter valued at approximately $55,525,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Plexus in the 2nd quarter valued at approximately $35,755,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Stock Performance

NASDAQ PLXS opened at $206.72 on Thursday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 27.86 and a beta of 0.97. The company has a 50 day moving average of $245.04 and a 200-day moving average of $239.97. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.05. Plexus Corp. has a 1-year low of $132.03 and a 1-year high of $307.06.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 28th. The technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.55 by $0.29. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.36 billion. Plexus had a return on equity of 13.34% and a net margin of 4.08%. Plexus’s revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 EPS. On average, equities analysts forecast that Plexus Corp. will post 9.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the transaction, the chief executive officer owned 65,888 shares of the company’s stock, valued at approximately $16,536,570.24. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $240.87, for a total value of $120,435.00. Following the sale, the director owned 7,535 shares in the company, valued at $1,814,955.45. The trade was a 6.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 9,000 shares of company stock worth $2,319,260. 1.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PLXS has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price target on shares of Plexus in a research note on Friday, August 14th. Fox Advisors upgraded Plexus from an “equal weight” rating to an “overweight” rating in a research note on Monday. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective for the company in a report on Friday, July 31st. KeyCorp upgraded shares of Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 target price on the stock in a research note on Monday, September 21st. Finally, Weiss Ratings downgraded shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $276.86.

Plexus Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.