Prudential Financial Inc. Purchases 31,490 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Prudential Financial Inc. boosted its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,065 shares of the technology company’s stock after purchasing an additional 31,490 shares during the period. Prudential Financial Inc. owned about 0.28% of Benchmark Electronics worth $4,660,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BHE. Parkside Financial Bank & Trust bought a new position in shares of Benchmark Electronics during the 4th quarter worth $50,000. KBC Group NV grew its position in shares of Benchmark Electronics by 40.2% during the 4th quarter. KBC Group NV now owns 2,151 shares of the technology company’s stock valued at $98,000 after purchasing an additional 617 shares in the last quarter. GAMMA Investing LLC increased its stake in Benchmark Electronics by 12.9% in the 4th quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company’s stock worth $116,000 after acquiring an additional 292 shares during the last quarter. Glenmede Trust Co. NA bought a new position in shares of Benchmark Electronics in the third quarter worth approximately $238,000. Finally, Summit Global Investments bought a new position in shares of Benchmark Electronics in the 4th quarter worth $242,000. Institutional investors own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BHE shares. Needham & Company LLC increased their price objective on Benchmark Electronics from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Benchmark Electronics has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Activity

In related news, CEO Jeff Benck sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $38.82, for a total transaction of $232,920.00. Following the transaction, the chief executive officer now owns 448,180 shares in the company, valued at $17,398,347.60. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Benchmark Electronics Stock Down 2.1 %

BHE stock opened at $38.03 on Tuesday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 21.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 2.32. The business’s 50 day moving average price is $41.25 and its two-hundred day moving average price is $44.40. Benchmark Electronics, Inc. has a fifty-two week low of $28.64 and a fifty-two week high of $52.57.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%.

Benchmark Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Monday, March 31st. Benchmark Electronics’s payout ratio is 39.31%.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.