Intech Investment Management LLC Grows Stock Position in PowerFleet, Inc. $AIOT

Intech Investment Management LLC raised its holdings in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 80.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,602 shares of the company’s stock after acquiring an additional 39,925 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of PowerFleet worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of PowerFleet in the first quarter valued at approximately $120,000. Blair William & Co. IL grew its holdings in PowerFleet by 97.0% during the 1st quarter. Blair William & Co. IL now owns 1,002,649 shares of the company’s stock valued at $5,505,000 after buying an additional 493,729 shares during the last quarter. Vanguard Group Inc. increased its position in PowerFleet by 3.8% during the first quarter. Vanguard Group Inc. now owns 6,725,504 shares of the company’s stock worth $36,923,000 after buying an additional 248,914 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in PowerFleet during the first quarter worth $121,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of PowerFleet by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 296,111 shares of the company’s stock worth $1,626,000 after acquiring an additional 15,249 shares during the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AIOT. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Wall Street Zen cut shares of PowerFleet from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, October 8th. William Blair reissued an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Finally, Barrington Research restated an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PowerFleet has an average rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Price Performance

AIOT opened at $5.07 on Friday. The company’s 50 day simple moving average is $5.08 and its 200 day simple moving average is $4.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.92 and a current ratio of 1.07. PowerFleet, Inc. has a 1 year low of $3.70 and a 1 year high of $8.71. The stock has a market capitalization of $677.82 million, a PE ratio of -16.88 and a beta of 1.35.

PowerFleet (NASDAQ:AIOT) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $111.68 million during the quarter, compared to analyst estimates of $105.51 million. PowerFleet had a negative net margin of 9.95% and a negative return on equity of 8.56%. PowerFleet has set its FY 2025 guidance at EPS. FY 2026 guidance at EPS. As a group, sell-side analysts expect that PowerFleet, Inc. will post -0.32 EPS for the current year.

PowerFleet Profile

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.