Vestcor Inc Sells 2,046 Shares of Ubiquiti Inc. $UI

Vestcor Inc trimmed its position in shares of Ubiquiti Inc. (NYSE:UI) by 31.7% during the 3rd quarter, Holdings Channel reports. The fund owned 4,414 shares of the company’s stock after selling 2,046 shares during the period. Vestcor Inc’s holdings in Ubiquiti were worth $2,916,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in UI. Private Advisor Group LLC bought a new position in shares of Ubiquiti during the 3rd quarter valued at approximately $408,000. PFG Advisors bought a new position in Ubiquiti in the 3rd quarter worth about $698,000. Diversify Advisory Services LLC raised its position in Ubiquiti by 28.4% during the 3rd quarter. Diversify Advisory Services LLC now owns 1,676 shares of the company’s stock valued at $1,107,000 after purchasing an additional 371 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Ubiquiti during the 3rd quarter worth about $443,000. Finally, Blair William & Co. IL increased its holdings in Ubiquiti by 50.5% during the third quarter. Blair William & Co. IL now owns 1,117 shares of the company’s stock valued at $738,000 after buying an additional 375 shares during the period. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on UI shares. Zacks Research upgraded shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Barclays increased their target price on shares of Ubiquiti from $455.00 to $527.00 and gave the company an “underweight” rating in a research report on Friday, February 6th. BWS Financial restated a “buy” rating and issued a $720.00 target price on shares of Ubiquiti in a research note on Monday, February 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, March 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ubiquiti has a consensus rating of “Moderate Buy” and an average target price of $615.67.

Ubiquiti Stock Up 2.3%

Ubiquiti stock opened at $769.87 on Wednesday. Ubiquiti Inc. has a 52 week low of $255.00 and a 52 week high of $803.59. The stock has a 50-day moving average price of $640.78 and a 200 day moving average price of $627.78. The company has a market capitalization of $46.59 billion, a price-to-earnings ratio of 52.44 and a beta of 1.33.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, February 6th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.80. Ubiquiti had a return on equity of 113.21% and a net margin of 29.90%.The company had revenue of $814.87 million during the quarter, compared to the consensus estimate of $716.95 million. During the same period in the previous year, the company posted $2.28 earnings per share. Ubiquiti’s revenue for the quarter was up 35.8% on a year-over-year basis. Research analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Tuesday, February 17th were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, February 17th. This represents a $3.20 dividend on an annualized basis and a yield of 0.4%. Ubiquiti’s dividend payout ratio (DPR) is presently 21.80%.

Ubiquiti Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.