Envestnet Asset Management Inc. Lowers Stake in Ubiquiti Inc. (NYSE:UI)

Envestnet Asset Management Inc. trimmed its position in Ubiquiti Inc. (NYSE:UIGet Rating) by 2.6% during the second quarter, HoldingsChannel.com reports. The firm owned 4,083 shares of the company’s stock after selling 111 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ubiquiti were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of UI. Bridgewater Associates LP acquired a new stake in shares of Ubiquiti during the first quarter valued at about $10,124,000. SW Investment Management LLC increased its holdings in Ubiquiti by 18.2% during the 1st quarter. SW Investment Management LLC now owns 130,000 shares of the company’s stock worth $37,850,000 after purchasing an additional 20,000 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Ubiquiti by 147.4% during the 1st quarter. First Trust Advisors LP now owns 32,309 shares of the company’s stock valued at $9,407,000 after buying an additional 19,252 shares during the last quarter. Liontrust Investment Partners LLP boosted its stake in shares of Ubiquiti by 16.2% during the 1st quarter. Liontrust Investment Partners LLP now owns 39,500 shares of the company’s stock valued at $11,501,000 after buying an additional 5,500 shares during the last quarter. Finally, Logan Capital Management Inc. grew its position in shares of Ubiquiti by 16.9% during the first quarter. Logan Capital Management Inc. now owns 29,697 shares of the company’s stock worth $8,646,000 after buying an additional 4,292 shares in the last quarter. 4.07% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Price Performance

Ubiquiti stock opened at $293.07 on Friday. Ubiquiti Inc. has a 12 month low of $218.15 and a 12 month high of $350.63. The company has a fifty day moving average price of $310.37 and a two-hundred day moving average price of $308.27. The company has a market cap of $17.71 billion, a PE ratio of 52.81 and a beta of 1.37.

Ubiquiti (NYSE:UIGet Rating) last issued its earnings results on Friday, August 26th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The firm had revenue of $443.15 million for the quarter, compared to analysts’ expectations of $386.97 million. Ubiquiti had a net margin of 19.63% and a negative return on equity of 129.71%. Equities research analysts anticipate that Ubiquiti Inc. will post 7.11 earnings per share for the current year.

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Monday, November 14th were issued a $0.60 dividend. This is an increase from Ubiquiti’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $2.40 annualized dividend and a dividend yield of 0.82%. Ubiquiti’s dividend payout ratio (DPR) is 43.24%.

Analyst Ratings Changes

A number of research analysts have commented on UI shares. StockNews.com initiated coverage on shares of Ubiquiti in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. BWS Financial increased their price target on shares of Ubiquiti from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Finally, Barclays lowered their price objective on Ubiquiti from $239.00 to $221.00 and set an “underweight” rating for the company in a report on Sunday, November 6th.

About Ubiquiti

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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, and other WLAN products.

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Institutional Ownership by Quarter for Ubiquiti (NYSE:UI)

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