Trust Point Inc. Trims Position in Plexus Corp. (NASDAQ:PLXS)

Trust Point Inc. decreased its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,419 shares of the technology company’s stock after selling 102 shares during the quarter. Trust Point Inc.’s holdings in Plexus were worth $222,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PLXS. R Squared Ltd bought a new stake in shares of Plexus during the fourth quarter valued at approximately $45,000. Pacer Advisors Inc. purchased a new stake in shares of Plexus in the 4th quarter worth $107,489,000. KBC Group NV grew its position in shares of Plexus by 59.9% during the 4th quarter. KBC Group NV now owns 1,180 shares of the technology company’s stock worth $185,000 after buying an additional 442 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Plexus by 12.1% during the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock valued at $121,000 after buying an additional 84 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Plexus by 59.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,445 shares of the technology company’s stock valued at $539,000 after acquiring an additional 1,278 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Trading Down 0.3 %

NASDAQ PLXS opened at $141.95 on Friday. The firm has a market cap of $3.84 billion, a PE ratio of 32.94 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 company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $159.02 and a 200 day moving average price of $143.55.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 EPS 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%. As a group, sell-side analysts forecast that Plexus Corp. will post 5.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on PLXS. KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Benchmark reissued a “buy” rating and set a $165.00 price objective on shares of Plexus in a report on Wednesday, January 22nd. Needham & Company LLC upped their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Stifel Nicolaus assumed coverage on Plexus in a research report on Tuesday. They set a “hold” rating and a $152.00 target price on the stock. Finally, StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Plexus presently has an average rating of “Moderate Buy” and an average price target of $163.00.

Insider Buying and Selling at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the transaction, the chief executive officer now directly owns 74,271 shares of the company’s stock, valued at $11,615,241.69. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael J. Running sold 539 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the sale, the insider now directly owns 1,030 shares in the company, valued at approximately $160,546.10. This represents a 34.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,239 shares of company stock worth $2,212,730. 1.76% of the stock is owned by insiders.

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.