Boston Trust Walden Corp Cuts Stock Position in Plexus Corp. (NASDAQ:PLXS)

Boston Trust Walden Corp cut its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 384,284 shares of the technology company’s stock after selling 6,954 shares during the quarter. Boston Trust Walden Corp’s holdings in Plexus were worth $60,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PLXS. Bank of Montreal Can increased its position in Plexus by 148.7% in the second quarter. Bank of Montreal Can now owns 11,049 shares of the technology company’s stock worth $1,147,000 after buying an additional 6,606 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Plexus by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,864 shares of the technology company’s stock worth $1,534,000 after acquiring an additional 384 shares during the period. Algert Global LLC purchased a new stake in Plexus in the 2nd quarter worth about $287,000. Creative Planning raised its stake in Plexus by 47.1% in the 2nd quarter. Creative Planning now owns 9,371 shares of the technology company’s stock valued at $967,000 after acquiring an additional 2,999 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in Plexus by 10.6% during the third quarter. Handelsbanken Fonder AB now owns 6,237 shares of the technology company’s stock valued at $853,000 after purchasing an additional 600 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 4,000 shares of Plexus stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $164.83, for a total transaction of $659,320.00. Following the completion of the sale, the chief executive officer now owns 77,026 shares of the company’s stock, valued at $12,696,195.58. The trade was a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,981 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $165.29, for a total value of $658,019.49. Following the transaction, the chief accounting officer now owns 31,342 shares in the company, valued at $5,180,519.18. This trade represents a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,717 shares of company stock worth $4,595,800 over the last three months. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. KeyCorp started coverage on shares of Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Benchmark reiterated a “buy” rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC raised their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.33.

Plexus Trading Down 1.1 %

Shares of PLXS stock opened at $141.71 on Monday. The company has a market capitalization of $3.84 billion, a PE ratio of 32.88 and a beta of 0.89. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $172.89. The business’s fifty day moving average is $160.77 and its 200 day moving average is $143.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. On average, equities research analysts anticipate that Plexus Corp. will post 5.97 EPS for the current fiscal year.

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.