Public Sector Pension Investment Board Reduces Position in Plexus Corp. (NASDAQ:PLXS)

Public Sector Pension Investment Board lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 4.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 57,767 shares of the technology company’s stock after selling 2,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Plexus were worth $7,897,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Quest Partners LLC raised its stake in shares of Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Plexus by 89.4% during the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after acquiring an additional 219 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Plexus during the second quarter valued at approximately $51,000. Advisors Asset Management Inc. raised its stake in shares of Plexus by 85.0% during the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after acquiring an additional 305 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the subject of several research analyst reports. Benchmark lifted their price target on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC lifted their price target on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, KeyCorp started coverage on shares of Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.50.

Plexus Stock Performance

Shares of NASDAQ:PLXS opened at $164.40 on Friday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 41.00 and a beta of 0.87. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $169.41. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $145.72 and a 200 day moving average of $125.60.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 earnings per share. On average, sell-side analysts predict that Plexus Corp. will post 6.14 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In other news, CFO Patrick John Jermain sold 5,045 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the transaction, the chief financial officer now directly owns 24,602 shares of the company’s stock, valued at approximately $3,521,284.26. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $165.90, for a total transaction of $497,700.00. Following the sale, the insider now directly owns 5,605 shares in the company, valued at $929,869.50. This trade represents a 34.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,591 shares of company stock valued at $5,143,375. Corporate insiders own 2.39% of the company’s stock.

About Plexus

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.