Northwestern Mutual Wealth Management Co. Has $256,000 Position in Ubiquiti Inc. $UI

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Ubiquiti Inc. by 225.2% in Q1, owning 826 shares worth $256,000 after acquiring an additional 572 shares.
• Ubiquiti reported quarterly earnings of $3.54 EPS, beating estimates of $2.23, with revenues reaching $759.15 million compared to expectations of $618.80 million.
• The company announced an increase in its quarterly dividend to $0.80, marking a rise from the previous $0.60, and set to yield 0.6% for shareholders.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 225.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 826 shares of the company's stock after purchasing an additional 572 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Ubiquiti were worth $256,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Ubiquiti during the 1st quarter valued at about $25,000. Brooklyn Investment Group lifted its stake in Ubiquiti by 78.8% in 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 in the last quarter. Versant Capital Management Inc lifted its stake in Ubiquiti by 484.2% in the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after acquiring an additional 92 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Ubiquiti in the 4th quarter valued at approximately $74,000. Finally, AlphaQuest LLC lifted its stake in Ubiquiti by 14,300.0% in the 1st quarter. AlphaQuest LLC now owns 288 shares of the company's stock valued at $89,000 after acquiring an additional 286 shares in the last quarter. Institutional investors own 4.00% of the company's stock.

Analyst Ratings Changes

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

Ubiquiti Trading Up 1.9%

Shares of NYSE:UI traded up $10.80 during trading on Friday, hitting $575.93. 138,145 shares of the company were exchanged, compared to its average volume of 210,074. The stock has a market cap of $34.84 billion, a price-to-earnings ratio of 48.93 and a beta of 1.42. Ubiquiti Inc. has a fifty-two week low of $186.40 and a fifty-two week high of $577.05. The firm has a fifty day moving average price of $453.59 and a two-hundred day moving average price of $385.13.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping 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 return on equity of 166.22% and a net margin of 27.66%.During the same quarter in the previous year, the firm earned $1.74 EPS. As a group, research analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Increases Dividend

The business also recently declared 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 is a positive change from Ubiquiti's previous quarterly dividend of $0.60. 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%. Ubiquiti's payout ratio is presently 27.19%.

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.