60,929 Shares in Ubiquiti Inc. $UI Purchased by Epoch Investment Partners Inc.

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 stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 60,929 shares of the company's stock, valued at approximately $18,897,000. Epoch Investment Partners Inc. owned about 0.10% of Ubiquiti at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in shares of Ubiquiti by 2.4% in the 1st quarter. US Bancorp DE now owns 1,564 shares of the company's stock worth $485,000 after purchasing an additional 37 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Ubiquiti by 6.0% during the 1st quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after buying an additional 41 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the period. Raleigh Capital Management Inc. increased its holdings in Ubiquiti by 26.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock worth $112,000 after acquiring an additional 75 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Ubiquiti by 7.2% in the 1st quarter. M&T Bank Corp now owns 1,174 shares of the company's stock worth $364,000 after acquiring an additional 79 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UI has been the topic of a number of analyst reports. BWS Financial lifted their target price on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Barclays boosted their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research note on Friday, August 22nd. Finally, UBS Group set a $600.00 price target on Ubiquiti in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $499.67.

Ubiquiti Trading Down 0.5%

Shares of NYSE:UI traded down $2.91 during trading on Monday, reaching $529.38. The company's stock had a trading volume of 278,624 shares, compared to its average volume of 195,856. The stock has a market capitalization of $32.02 billion, a PE ratio of 44.98 and a beta of 1.42. Ubiquiti Inc. has a 12 month low of $186.40 and a 12 month high of $543.99. The firm's 50 day simple moving average is $438.39 and its two-hundred day simple moving average is $378.19.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $759.15 million during the quarter, compared to analyst estimates of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same period last year, the company earned $1.74 EPS. Research analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, September 2nd. Ubiquiti's dividend payout ratio (DPR) is presently 27.19%.

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.