Invesco Ltd. Buys 989 Shares of Ubiquiti Inc. $UI

Key Points

• Invesco Ltd. increased its stake in Ubiquiti Inc. by 8.1% during the first quarter, acquiring 989 additional shares to bring its total to 13,265 shares valued at approximately $4.11 million.
• Ubiquiti recently reported $3.54 EPS for the quarter, surpassing analysts' estimates, with revenue of $759.15 million during the period.
• The company has announced a quarterly dividend of $0.80, up from the previous dividend of $0.60, signaling strong financial health.

Invesco Ltd. raised its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 8.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,265 shares of the company's stock after purchasing an additional 989 shares during the quarter. Invesco Ltd.'s holdings in Ubiquiti were worth $4,114,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. TD Asset Management Inc bought a new position in shares of Ubiquiti in the first quarter worth approximately $34,013,000. Pacer Advisors Inc. boosted its position in Ubiquiti by 76.2% during the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company's stock valued at $33,785,000 after buying an additional 47,109 shares during the period. AQR Capital Management LLC boosted its position in Ubiquiti by 100.1% during the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock valued at $32,927,000 after buying an additional 49,616 shares during the period. GAMMA Investing LLC grew its holdings in Ubiquiti by 37,116.4% in the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock worth $12,697,000 after acquiring an additional 40,828 shares during the last quarter. Finally, Abacus FCF Advisors LLC increased its position in shares of Ubiquiti by 654.4% in the first quarter. Abacus FCF Advisors LLC now owns 33,116 shares of the company's stock valued at $10,271,000 after acquiring an additional 28,726 shares during the period. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Trading Up 1.2%

NYSE:UI opened at $530.84 on Friday. The company has a 50-day moving average price of $435.22 and a 200-day moving average price of $376.47. The stock has a market cap of $32.11 billion, a price-to-earnings ratio of 45.10 and a beta of 1.35. Ubiquiti Inc. has a 12 month low of $186.40 and a 12 month high of $543.99.

Ubiquiti (NYSE:UI - Get Free Report) last released its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The company had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. During the same period in the prior year, the firm earned $1.74 earnings per share. Equities analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 0.6%. This is an increase from Ubiquiti's previous quarterly dividend of $0.60. Ubiquiti's dividend payout ratio is currently 27.19%.

Analysts Set New Price Targets

Several equities analysts have recently commented on UI shares. BWS Financial upped their price objective on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a research note on Monday. UBS Group set a $600.00 price target on Ubiquiti in a report on Monday. Finally, Barclays upped their price target on Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $499.67.

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.

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