Canada Pension Plan Investment Board Purchases New Holdings in Plexus Corp. (NASDAQ:PLXS)

Canada Pension Plan Investment Board purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,200 shares of the technology company's stock, valued at approximately $1,596,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLXS. Pacer Advisors Inc. purchased a new stake in shares of Plexus in the fourth quarter worth $107,489,000. Stifel Financial Corp purchased a new stake in Plexus in the 3rd quarter worth $332,000. Barclays PLC raised its holdings in Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company's stock valued at $6,669,000 after acquiring an additional 28,406 shares during the period. KBC Group NV lifted its position in shares of Plexus by 59.9% in the fourth quarter. KBC Group NV now owns 1,180 shares of the technology company's stock valued at $185,000 after acquiring an additional 442 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Plexus in the fourth quarter worth about $783,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity at Plexus

In other Plexus news, insider Michael J. Running sold 1,250 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the sale, the insider now directly owns 1,276 shares of the company's stock, valued at $176,879.12. The trade was a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.96, for a total value of $205,440.00. Following the completion of the sale, the chief executive officer now directly owns 86,932 shares of the company's stock, valued at $11,906,206.72. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,958 shares of company stock valued at $2,551,930 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus set a $145.00 target price on Plexus in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $162.00 price objective (down previously from $172.00) on shares of Plexus in a research report on Friday. Finally, Benchmark lowered their target price on shares of Plexus from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $155.67.

Plexus Price Performance

Shares of NASDAQ:PLXS traded up $1.45 during mid-day trading on Friday, reaching $126.80. The stock had a trading volume of 142,114 shares, compared to its average volume of 166,801. The company has a market cap of $3.43 billion, a P/E ratio of 29.42 and a beta of 0.83. The business's 50 day moving average price is $125.74 and its 200 day moving average price is $144.20. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 1 year low of $99.79 and a 1 year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Research analysts expect that Plexus Corp. will post 5.9 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.