2,270 Shares in Ubiquiti Inc. (NYSE:UI) Acquired by Vestcor Inc

Key Points

• Vestcor Inc has acquired 2,270 shares in Ubiquiti Inc., valued at approximately $704,000, as part of its first-quarter investments.
• Ubiquiti recently announced a quarterly dividend of $0.60 per share, yielding 0.6% annually, with a payout ratio of 26.43%.
• Analyst ratings for Ubiquiti include a reaffirmed "buy" from BWS Financial with a price target of $440.00, while Barclays has a lower target of $247.00 with an "underweight" rating.

Vestcor Inc purchased a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,270 shares of the company's stock, valued at approximately $704,000.

Several other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC bought a new position in Ubiquiti in the 1st quarter worth about $25,000. Versant Capital Management Inc boosted its stake in Ubiquiti by 484.2% in 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 period. Sterling Capital Management LLC boosted its stake in Ubiquiti by 30.2% in the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock worth $56,000 after purchasing an additional 39 shares during the period. Lazard Asset Management LLC bought a new position in Ubiquiti in the 4th quarter worth about $74,000. Finally, Aster Capital Management DIFC Ltd boosted its stake in Ubiquiti by 49.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 235 shares of the company's stock worth $78,000 after purchasing an additional 78 shares during the period. Institutional investors own 4.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on UI shares. BWS Financial reaffirmed a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a report on Friday, July 11th. Barclays boosted their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th.

Ubiquiti Price Performance

Shares of NYSE:UI traded down $4.29 during trading on Thursday, hitting $454.96. The company's stock had a trading volume of 43,968 shares, compared to its average volume of 103,868. The company has a 50-day moving average of $414.10 and a 200-day moving average of $370.49. Ubiquiti Inc. has a 12 month low of $165.50 and a 12 month high of $473.72. The firm has a market cap of $27.52 billion, a price-to-earnings ratio of 50.18 and a beta of 1.35.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date was Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Ubiquiti's dividend payout ratio (DPR) is currently 26.43%.

About Ubiquiti

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.