A recent disclosure with the United States Securities and Exchange Commission (SEC) reveals that the Bank of Nova Scotia has purchased a new stake in Plexus Corporation, valued at approximately $234,000. The institutional investor acquired 2,274 shares of the technology company’s stock during the fourth quarter, highlighting its strong belief in this growing industry.
Plexus Corporation is an electronic manufacturing services provider that specializes in transforming ideas into branded products and delivering them to market. With partnerships spanning various industries such as healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors, it is no surprise that investors are turning towards companies like Plexus as they recognize their potential resilience in today’s ever-changing markets.
Although there have been some fluctuations in economic conditions worldwide recently due to geopolitical tensions and global pandemics, Plexus continues to stand out as a promising prospect for investors. Moreover, bolstered by partnerships with clients from different sections of the economy while providing targeted product development solutions further reinforces their robust market presence amidst adversity.
Moreover, something onlookers can glean from this transaction: EVP Ronnie Darroch sold 4,424 shares of Plexus stocks at an average price of $89.12 per share during a May 1st transaction. This sale equates to roughly $394K; however, insiders still own about 2.05% of total outstanding shares.
As we progress further into the year seeking investments resilient enough to surmount present-day turbulence seems paramount than ever before- invariably reinforcing clearly why Bank of Nova Scotia’s strategic acquisition may have been nifty looking ahead. It suffices to say that upon examination of these transactions by institutional investors and insiders alike that provide valuable insight into a company’s overall health consumers should monitor operational performances closely whilst projecting confidence toward long-term value propositions.
Institutional investors show confidence in Plexus Corp. with recent stake purchases
Plexus Corp., a leading provider of electronic manufacturing services, has received significant attention from institutional investors and hedge funds in recent months. Legato Capital Management LLC purchased a new stake in Plexus in the fourth quarter of 2016, valued at approximately $376,000. Meanwhile, Marshall Wace LLP acquired a new position in Plexus in the third quarter of 2016, valued at about $10,063,000. Thrivent Financial for Lutherans grew its stake in Plexus by an impressive 544.8% during the same period and now owns 175,626 shares of the company’s stock valued at $15,378,000. CHICAGO TRUST Co NA also acquired a new position in Plexus during the fourth quarter of 2016 with a value of about $206,000.
Finally, Ronald Blue Trust Inc. grew its stake in Plexus by 86.9% during the same period and now owns 815 shares of the technology company’s stock valued at $71,000 after buying an additional 379 shares during that quarter. These moves by major institutional investors demonstrate confidence in the future prospects for Plexus.
A number of research analysts have also weighed in on PLXS recently. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set it a target price of $116 per share on January 27th. One equities research analyst has rated the stock with a sell rating while one assigned it as hold rating and four issued buy ratings to the firm’s stock.
The NASDAQ-listed company is primarily involved with partnering with other companies to transform concepts into branded products ready for sale and delivery to market sectors such as healthcare and life sciences; industrial and commercial; communications; as well as aerospace and defence sectors.
As at Friday last week when this report was filed Shares of NASDAQ:PLXS opened trading at $90.24, while the company’s 50-day and two-hundred-day moving averages were priced at $91.05 and $99.14 respectively. Plexus has a market cap of $2.49 billion, with a PE ratio of 14.92 and a beta of 1.11.
Finally, in its last quarterly financial results posted on April 26th, the company recorded an earnings per share (EPS) of $1.45 for the quarter – exceeding recent consensus estimates by $0.29, thanks in part to increased revenue figures which stood at $1.07 billion compared to expected analyst estimates of around $1.04 billion – apparently buoyed by their ongoing partnerships with key stakeholders as well as their ability to align their concepts to meet diverse consumer needs across various sectors such as healthcare and life sciences as well as aerospace & defence industries among others..
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