Strs Ohio Decreases Position in Plexus Corp. (NASDAQ:PLXS)

Strs Ohio cut its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,200 shares of the technology company’s stock after selling 600 shares during the period. Strs Ohio’s holdings in Plexus were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Qube Research & Technologies Ltd raised its position in Plexus by 93.7% during the third quarter. Qube Research & Technologies Ltd now owns 22,691 shares of the technology company’s stock valued at $2,110,000 after purchasing an additional 10,975 shares during the period. Vanguard Group Inc. grew its stake in shares of Plexus by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock valued at $321,147,000 after buying an additional 47,762 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Plexus during the third quarter valued at approximately $715,000. First Eagle Investment Management LLC bought a new position in shares of Plexus during the third quarter valued at approximately $5,865,000. Finally, CHICAGO TRUST Co NA bought a new position in shares of Plexus during the fourth quarter valued at approximately $216,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief executive officer now owns 121,310 shares in the company, valued at $11,403,140. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief executive officer now owns 121,310 shares in the company, valued at $11,403,140. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael J. Running sold 542 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total value of $51,815.20. Following the sale, the insider now owns 1,569 shares of the company’s stock, valued at approximately $149,996.40. The disclosure for this sale can be found here. Insiders sold a total of 32,453 shares of company stock worth $3,112,875 over the last 90 days. Company insiders own 2.39% of the company’s stock.

Plexus Stock Up 2.5 %

Shares of NASDAQ:PLXS opened at $96.58 on Wednesday. Plexus Corp. has a 52-week low of $83.84 and a 52-week high of $114.06. The stock has a market cap of $2.67 billion, a P/E ratio of 21.51 and a beta of 1.02. The business’s 50 day moving average is $94.26 and its 200 day moving average is $98.37. The company has a quick ratio of 0.62, a current ratio of 1.52 and a debt-to-equity ratio of 0.15.

Plexus (NASDAQ:PLXS) last posted its earnings results on Thursday, January 25th. The technology company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). The company had revenue of $982.61 million for the quarter, compared to analysts’ expectations of $982.57 million. Plexus had a return on equity of 12.16% and a net margin of 3.08%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 EPS. Sell-side analysts predict that Plexus Corp. will post 4.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PLXS shares. TheStreet cut Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Needham & Company LLC cut their target price on Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of Plexus in a research note on Wednesday, January 17th. Finally, Sidoti cut Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Plexus Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.