Mairs & Power INC Trims Stake in Proto Labs Inc (PRLB)
Mairs & Power INC trimmed its holdings in Proto Labs Inc (NYSE:PRLB) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 266,579 shares of the industrial products company’s stock after selling 676 shares during the period. Mairs & Power INC owned 0.98% of Proto Labs worth $30,067,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Proto Labs by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 339,448 shares of the industrial products company’s stock valued at $40,378,000 after purchasing an additional 9,920 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Proto Labs during the 3rd quarter valued at about $677,000. WINTON GROUP Ltd bought a new stake in shares of Proto Labs in the 3rd quarter valued at about $461,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Proto Labs in the 3rd quarter valued at about $720,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Proto Labs in the 3rd quarter valued at about $341,000. 91.69% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on PRLB. Zacks Investment Research cut Proto Labs from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Berenberg Bank began coverage on Proto Labs in a research note on Wednesday, November 14th. They issued a “buy” rating and a $159.00 price target for the company. Northcoast Research began coverage on Proto Labs in a research note on Wednesday, December 12th. They issued a “buy” rating and a $145.00 price target for the company. ValuEngine cut Proto Labs from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Piper Jaffray Companies lowered their price target on Proto Labs to $98.00 and set a “neutral” rating for the company in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $134.00.
Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.06). Proto Labs had a net margin of 17.19% and a return on equity of 14.73%. The business had revenue of $112.80 million for the quarter, compared to analyst estimates of $115.40 million. During the same period in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, sell-side analysts expect that Proto Labs Inc will post 2.74 EPS for the current year.
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About Proto Labs
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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