PNC Financial Services Group Inc. Sells 1,476 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

PNC Financial Services Group Inc. lowered its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,324 shares of the technology company’s stock after selling 1,476 shares during the period. PNC Financial Services Group Inc.’s holdings in Benchmark Electronics were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Benchmark Electronics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,685,488 shares of the technology company’s stock worth $129,507,000 after purchasing an additional 58,266 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Benchmark Electronics by 63.3% during the fourth quarter. Wellington Management Group LLP now owns 183,278 shares of the technology company’s stock valued at $5,066,000 after buying an additional 71,024 shares during the last quarter. Dean Capital Management boosted its holdings in shares of Benchmark Electronics by 7.5% in the 4th quarter. Dean Capital Management now owns 44,222 shares of the technology company’s stock valued at $1,222,000 after buying an additional 3,104 shares in the last quarter. Circumference Group LLC purchased a new position in shares of Benchmark Electronics in the 4th quarter worth approximately $6,558,000. Finally, Keeley Teton Advisors LLC raised its stake in shares of Benchmark Electronics by 1.0% during the 4th quarter. Keeley Teton Advisors LLC now owns 62,915 shares of the technology company’s stock worth $1,739,000 after acquiring an additional 597 shares in the last quarter. Institutional investors own 92.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Fox Advisors downgraded shares of Benchmark Electronics from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. Sidoti lowered Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Monday, April 29th. StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Finally, Needham & Company LLC boosted their target price on shares of Benchmark Electronics from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, May 6th.

Insider Buying and Selling

In other Benchmark Electronics news, CFO Arvind Kamal sold 783 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total transaction of $30,051.54. Following the sale, the chief financial officer now directly owns 20,735 shares of the company’s stock, valued at approximately $795,809.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jan M. Janick sold 6,777 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.87, for a total value of $263,421.99. Following the completion of the transaction, the senior vice president now directly owns 67,774 shares in the company, valued at approximately $2,634,375.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Arvind Kamal sold 783 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total transaction of $30,051.54. Following the sale, the chief financial officer now directly owns 20,735 shares in the company, valued at $795,809.30. The disclosure for this sale can be found here. Insiders sold a total of 17,560 shares of company stock valued at $688,374 over the last 90 days. Insiders own 2.10% of the company’s stock.

Benchmark Electronics Stock Performance

Shares of BHE stock opened at $39.46 on Friday. The business has a fifty day moving average of $39.09 and a 200 day moving average of $32.42. Benchmark Electronics, Inc. has a 1 year low of $22.66 and a 1 year high of $44.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 1.41. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 21.56 and a beta of 1.03.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $675.58 million during the quarter. Benchmark Electronics had a return on equity of 7.20% and a net margin of 2.34%.

Benchmark Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.165 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.67%. Benchmark Electronics’s payout ratio is currently 36.07%.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.