AEGON ASSET MANAGEMENT UK Plc Decreases Holdings in PowerFleet, Inc. $AIOT

Key Points

• AEGON ASSET MANAGEMENT UK Plc cut its stake in PowerFleet by 53.3% in Q4, selling 1,000,468 shares and ending the quarter with 878,049 shares (about $4.66M), or 0.66% of the company.
• Several other institutions either added or initiated positions — notably Pinnacle Associates boosted its holding by 635.7% to 1,398,305 shares and Wasatch Advisors started a ~$6.43M stake — leaving 73.40% of the stock held by hedge funds and other institutions.
• Analysts are mixed but the consensus is a “Moderate Buy” with an average price target of $10.33, while AIOT trades near $3.34 (1‑year range $2.78–$6.07) and the company reported negative margins and EPS.

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in shares of PowerFleet, Inc. (NASDAQ:AIOT - Free Report) by 53.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 878,049 shares of the company's stock after selling 1,000,468 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned 0.66% of PowerFleet worth $4,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wasatch Advisors LP acquired a new stake in PowerFleet during the 2nd quarter worth about $6,426,000. Pinnacle Associates Ltd. increased its holdings in shares of PowerFleet by 635.7% in the third quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company's stock valued at $7,327,000 after purchasing an additional 1,208,252 shares during the period. Bastion Asset Management Inc. purchased a new position in shares of PowerFleet in the third quarter worth about $4,776,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in PowerFleet in the first quarter valued at approximately $3,670,000. Finally, Qube Research & Technologies Ltd increased its holdings in PowerFleet by 269.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 905,433 shares of the company's stock worth $3,902,000 after buying an additional 660,643 shares during the period. 73.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on AIOT. Weiss Ratings upgraded shares of PowerFleet from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Tuesday, February 10th. Barrington Research reiterated an "outperform" rating and issued a $15.00 price objective on shares of PowerFleet in a research note on Friday, February 6th. Finally, Wall Street Zen cut shares of PowerFleet from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $10.33.

PowerFleet Price Performance

AIOT stock opened at $3.34 on Monday. PowerFleet, Inc. has a one year low of $2.78 and a one year high of $6.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.09. The firm's fifty day moving average is $3.28 and its 200 day moving average is $4.47. The firm has a market cap of $448.06 million, a PE ratio of -14.52 and a beta of 1.40.

PowerFleet (NASDAQ:AIOT - Get Free Report) last posted its earnings results on Monday, February 9th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The business had revenue of $113.49 million for the quarter, compared to analyst estimates of $111.69 million. PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. On average, research analysts forecast that PowerFleet, Inc. will post -0.13 EPS for the current year.

PowerFleet Company Profile

PowerFleet, Inc NASDAQ: AIOT develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company's systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company's hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.

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