Wedge Capital Management L L P NC Makes New $2.62 Million Investment in Sensata Technologies Holding plc (NYSE:ST)

Wedge Capital Management L L P NC purchased a new position in shares of Sensata Technologies Holding plc (NYSE:ST) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 108,117 shares of the scientific and technical instruments company’s stock, valued at approximately $2,624,000. Wedge Capital Management L L P NC owned 0.07% of Sensata Technologies as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Sensata Technologies in the 4th quarter worth $48,580,000. Invesco Ltd. raised its position in shares of Sensata Technologies by 19.4% during the fourth quarter. Invesco Ltd. now owns 326,180 shares of the scientific and technical instruments company’s stock worth $8,937,000 after purchasing an additional 53,034 shares during the period. Prudential Financial Inc. raised its position in shares of Sensata Technologies by 94.7% during the fourth quarter. Prudential Financial Inc. now owns 213,624 shares of the scientific and technical instruments company’s stock worth $5,853,000 after purchasing an additional 103,897 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Sensata Technologies by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,060,537 shares of the scientific and technical instruments company’s stock worth $29,059,000 after purchasing an additional 19,233 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Sensata Technologies by 316.4% during the fourth quarter. Two Sigma Advisers LP now owns 30,400 shares of the scientific and technical instruments company’s stock worth $833,000 after purchasing an additional 23,100 shares during the period. Institutional investors own 99.42% of the company’s stock.

Insider Transactions at Sensata Technologies

In other news, Director Andrew C. Teich purchased 9,925 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $25.19 per share, for a total transaction of $250,010.75. Following the completion of the acquisition, the director now directly owns 41,117 shares in the company, valued at approximately $1,035,737.23. The trade was a 31.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.89% of the company’s stock.

Sensata Technologies Stock Performance

Shares of NYSE ST opened at $27.79 on Tuesday. The business has a fifty day simple moving average of $23.06 and a 200 day simple moving average of $26.47. Sensata Technologies Holding plc has a one year low of $17.32 and a one year high of $42.33. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 1.25 and a beta of 1.10. The company has a current ratio of 2.85, a quick ratio of 1.99 and a debt-to-equity ratio of 1.11.

Sensata Technologies (NYSE:ST) last announced its quarterly earnings results on Thursday, May 8th. The scientific and technical instruments company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Sensata Technologies had a return on equity of 17.54% and a net margin of 3.27%. The firm had revenue of $911.26 million for the quarter, compared to analysts’ expectations of $878.39 million. During the same period in the prior year, the business posted $0.89 earnings per share. The business’s revenue was down 9.5% compared to the same quarter last year. Sell-side analysts expect that Sensata Technologies Holding plc will post 3.21 EPS for the current year.

Sensata Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, May 14th. Sensata Technologies’s payout ratio is presently 59.26%.

Analyst Ratings Changes

Several research firms have weighed in on ST. UBS Group lowered their target price on Sensata Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Robert W. Baird lowered their price target on Sensata Technologies from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on Sensata Technologies from $27.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th. Evercore ISI cut Sensata Technologies from an “outperform” rating to an “inline” rating and lowered their price target for the company from $40.00 to $27.00 in a research note on Thursday, April 3rd. Finally, Oppenheimer reduced their target price on Sensata Technologies from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.08.

About Sensata Technologies

Sensata Technologies Holding plc develops, manufactures, and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products used in mission-critical systems and applications in the United States and internationally. It operates in two segments, Performance Sensing and Sensing Solutions.