Epoch Investment Partners Inc. Purchases New Position in Ubiquiti Inc. $UI

Key Points

• Epoch Investment Partners Inc. acquired a new stake in Ubiquiti Inc., purchasing 60,929 shares valued at approximately $18.9 million during the first quarter.
• Ubiquiti has recently seen a boost in its quarterly dividend, increasing it from $0.60 to $0.80 per share, which reflects an annual yield of 0.6%.
• Analysts have set new target prices for Ubiquiti, with estimates ranging from $299.00 by Barclays to $600.00 by UBS Group, indicating varying confidence in the stock's future performance.

Epoch Investment Partners Inc. bought a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 60,929 shares of the company's stock, valued at approximately $18,897,000. Epoch Investment Partners Inc. owned approximately 0.10% of Ubiquiti as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Ubiquiti during the first quarter worth about $25,000. Brooklyn Investment Group increased its holdings in shares of Ubiquiti by 78.8% during the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after buying an additional 41 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after buying an additional 92 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Ubiquiti during the fourth quarter worth approximately $74,000. Finally, AlphaQuest LLC increased its holdings in shares of Ubiquiti by 14,300.0% in the first quarter. AlphaQuest LLC now owns 288 shares of the company's stock valued at $89,000 after purchasing an additional 286 shares in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group set a $600.00 price target on shares of Ubiquiti in a report on Monday, August 25th. BWS Financial raised their price target on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a report on Monday, August 25th. Finally, Barclays lifted their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $499.67.

Ubiquiti Stock Down 0.5%

UI traded down $2.91 during trading on Friday, hitting $529.38. The company had a trading volume of 278,624 shares, compared to its average volume of 187,161. The company has a market capitalization of $32.02 billion, a PE ratio of 44.98 and a beta of 1.35. Ubiquiti Inc. has a one year low of $186.40 and a one year high of $543.99. The firm's 50-day moving average price is $438.39 and its 200 day moving average price is $377.95.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.31. The firm had revenue of $759.15 million for the quarter, compared to analyst estimates 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 previous year, the business earned $1.74 EPS. Sell-side analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 0.6%. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. Ubiquiti's dividend payout ratio (DPR) is presently 20.39%.

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.