Northern Trust Corp Increases Position in Ubiquiti Inc. $UI

Northern Trust Corp lifted its holdings in Ubiquiti Inc. (NYSE:UI) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,172 shares of the company’s stock after purchasing an additional 3,696 shares during the period. Northern Trust Corp’s holdings in Ubiquiti were worth $9,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in Ubiquiti in the 1st quarter worth about $25,000. Brooklyn Investment Group boosted its holdings in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock worth $29,000 after purchasing an additional 41 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of 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 last quarter. Lazard Asset Management LLC acquired a new position in shares of Ubiquiti during the 4th quarter worth approximately $74,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Ubiquiti during the 1st quarter worth approximately $92,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UI has been the topic of several recent research reports. UBS Group set a $600.00 target price on Ubiquiti in a report on Monday, August 25th. BWS Financial boosted their target price on Ubiquiti from $440.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Finally, Barclays boosted their target price on Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $499.67.

Ubiquiti Stock Performance

UI opened at $575.93 on Friday. Ubiquiti Inc. has a one year low of $186.40 and a one year high of $577.05. The stock has a market capitalization of $34.84 billion, a PE ratio of 48.93 and a beta of 1.42. The business’s 50 day moving average price is $453.59 and its 200 day moving average price is $384.84.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 22nd. The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The firm had revenue of $759.15 million for the quarter, compared to analysts’ expectations of $618.80 million. During the same period in the prior year, the firm posted $1.74 earnings per share. As a group, equities research analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Tuesday, September 2nd will be issued a $0.80 dividend. This is a boost from Ubiquiti’s previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 2nd. Ubiquiti’s payout ratio is currently 27.19%.

Ubiquiti Company 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.