Stock Yards Bank & Trust Co. Raises Stock Holdings in Ubiquiti Inc. (NYSE:UI)

Stock Yards Bank & Trust Co. lifted its holdings in Ubiquiti Inc. (NYSE:UI) by 9.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,407 shares of the company’s stock after purchasing an additional 122 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Ubiquiti were worth $436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc increased its holdings in Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company’s stock worth $34,000 after purchasing an additional 92 shares during the period. Farther Finance Advisors LLC increased its holdings in Ubiquiti by 47.0% during the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares during the period. Venturi Wealth Management LLC increased its holdings in Ubiquiti by 71.1% during the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock worth $43,000 after purchasing an additional 54 shares during the period. Financial Perspectives Inc increased its holdings in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock worth $56,000 after purchasing an additional 102 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Ubiquiti by 30.2% during the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company’s stock worth $56,000 after purchasing an additional 39 shares during the period. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Stock Down 3.7%

Shares of NYSE UI opened at $383.02 on Friday. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $23.17 billion, a PE ratio of 52.04 and a beta of 1.35. The stock’s fifty day simple moving average is $363.88 and its two-hundred day simple moving average is $353.05. Ubiquiti Inc. has a 12-month low of $139.06 and a 12-month high of $469.98.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.63%. Ubiquiti’s dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analysts Forecast Growth

Several research firms have commented on UI. Barclays raised their price objective on Ubiquiti from $222.00 to $247.00 and gave the stock an “underweight” rating in a report on Monday, May 12th. BWS Financial restated a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a report on Monday, May 12th.

Ubiquiti Profile

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.