Carnegie Investment Counsel Decreases Holdings in Ubiquiti Inc. $UI

Carnegie Investment Counsel trimmed its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 3.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,700 shares of the company’s stock after selling 150 shares during the quarter. Carnegie Investment Counsel’s holdings in Ubiquiti were worth $1,523,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its position in shares of Ubiquiti by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,307 shares of the company’s stock valued at $538,000 after buying an additional 25 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Ubiquiti by 2.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,025 shares of the company’s stock valued at $422,000 after buying an additional 25 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ubiquiti by 20.5% during the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock valued at $65,000 after purchasing an additional 27 shares during the last quarter. Wedmont Private Capital grew its holdings in Ubiquiti by 4.7% during the 2nd quarter. Wedmont Private Capital now owns 697 shares of the company’s stock valued at $281,000 after purchasing an additional 31 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Ubiquiti by 2.4% during the 1st quarter. US Bancorp DE now owns 1,564 shares of the company’s stock valued at $485,000 after purchasing an additional 37 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Price Performance

Shares of UI stock opened at $734.74 on Friday. The company has a market capitalization of $44.44 billion, a P/E ratio of 62.42 and a beta of 1.44. The company’s 50-day simple moving average is $615.88 and its two-hundred day simple moving average is $470.68. Ubiquiti Inc. has a one year low of $245.00 and a one year high of $773.95.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $1.31. The business had revenue of $759.15 million for the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. During the same period in the prior year, the firm earned $1.74 EPS. On average, research analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 0.4%. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s payout ratio is currently 27.19%.

Analyst Upgrades and Downgrades

UI has been the topic of several analyst reports. Barclays upped their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a report on Friday, August 22nd. UBS Group set a $600.00 price target on shares of Ubiquiti in a report on Monday, August 25th. BWS Financial upped their price target on shares of Ubiquiti from $600.00 to $720.00 and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a report on Friday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ubiquiti has a consensus rating of “Hold” and an average price target of $539.67.

Ubiquiti 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.