State of New Jersey Common Pension Fund D Sells 1,274 Shares of Plexus Corp. (NASDAQ:PLXS)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,611 shares of the technology company’s stock after selling 1,274 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Plexus were worth $2,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after acquiring an additional 74,988 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in Plexus by 0.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after purchasing an additional 7,245 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Plexus by 8.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after purchasing an additional 87,574 shares in the last quarter. Earnest Partners LLC raised its holdings in Plexus by 3.0% in the second quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after buying an additional 23,074 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Plexus by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock worth $46,772,000 after buying an additional 31,099 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of Plexus stock opened at $153.71 on Friday. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $169.41. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.19 billion, a P/E ratio of 38.33 and a beta of 0.87. The stock’s fifty day moving average price is $138.77 and its 200-day moving average price is $121.79.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.44 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This trade represents a 8.10 % 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, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. The trade was a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,973 shares of company stock worth $5,411,746 over the last three months. 2.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLXS has been the topic of several recent analyst reports. Benchmark increased their target price on Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Needham & Company LLC boosted their price objective on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 25th. KeyCorp initiated coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Finally, StockNews.com lowered shares of Plexus from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $133.50.

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.