California Public Employees Retirement System lessened its stake in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 186,140 shares of the communications equipment provider’s stock after selling 13,287 shares during the period. California Public Employees Retirement System owned 0.78% of Comtech Telecomm. worth $4,531,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Alpha Windward LLC bought a new stake in Comtech Telecomm. during the fourth quarter valued at about $447,000. Ceredex Value Advisors LLC grew its holdings in Comtech Telecomm. by 22.9% during the fourth quarter. Ceredex Value Advisors LLC now owns 554,866 shares of the communications equipment provider’s stock valued at $13,506,000 after purchasing an additional 103,266 shares during the period. MetLife Investment Advisors LLC grew its holdings in Comtech Telecomm. by 52.0% during the third quarter. MetLife Investment Advisors LLC now owns 17,440 shares of the communications equipment provider’s stock valued at $633,000 after purchasing an additional 5,965 shares during the period. Vanguard Group Inc grew its holdings in Comtech Telecomm. by 3.8% during the third quarter. Vanguard Group Inc now owns 1,581,170 shares of the communications equipment provider’s stock valued at $57,348,000 after purchasing an additional 57,669 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in Comtech Telecomm. during the third quarter valued at about $265,000. 88.21% of the stock is owned by institutional investors and hedge funds.
Shares of Comtech Telecomm. stock opened at $22.61 on Friday. Comtech Telecomm. Corp. has a 52 week low of $22.00 and a 52 week high of $36.94. The stock has a market capitalization of $545.97 million, a PE ratio of 30.15, a price-to-earnings-growth ratio of 3.97 and a beta of 1.33. The company has a current ratio of 2.20, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34.
Comtech Telecomm. (NASDAQ:CMTL) last announced its quarterly earnings data on Wednesday, March 6th. The communications equipment provider reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.16. Comtech Telecomm. had a return on equity of 6.56% and a net margin of 4.21%. The business had revenue of $164.10 million for the quarter, compared to the consensus estimate of $159.96 million. During the same period in the previous year, the business earned $0.07 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. On average, equities research analysts anticipate that Comtech Telecomm. Corp. will post 1.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Wednesday, April 17th will be given a $0.10 dividend. The ex-dividend date is Tuesday, April 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.77%. Comtech Telecomm.’s payout ratio is 53.33%.
CMTL has been the subject of several recent research reports. ValuEngine raised Comtech Telecomm. from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. BidaskClub downgraded Comtech Telecomm. from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research downgraded Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 13th. Finally, Noble Financial set a $38.00 price objective on Comtech Telecomm. and gave the company a “buy” rating in a research report on Saturday, December 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.80.
In related news, VP John Branscum sold 1,158 shares of the business’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $25.16, for a total value of $29,135.28. Following the sale, the vice president now directly owns 35,162 shares in the company, valued at $884,675.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edwin Kantor sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $25.50, for a total value of $25,500.00. Following the completion of the sale, the director now owns 500 shares in the company, valued at $12,750. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by insiders.
Comtech Telecomm. Profile
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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