William Blair Investment Management LLC cut its stake in National Instruments Corp (NASDAQ:NATI) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,272,374 shares of the technology company’s stock after selling 569,493 shares during the quarter. William Blair Investment Management LLC owned approximately 1.74% of National Instruments worth $94,599,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Retirement Systems of Alabama increased its position in shares of National Instruments by 87.3% in the fourth quarter. Retirement Systems of Alabama now owns 258,628 shares of the technology company’s stock valued at $10,767,000 after buying an additional 120,563 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of National Instruments by 0.8% in the third quarter. Principal Financial Group Inc. now owns 458,721 shares of the technology company’s stock valued at $19,343,000 after buying an additional 3,649 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of National Instruments by 148.9% in the third quarter. GSA Capital Partners LLP now owns 21,227 shares of the technology company’s stock valued at $895,000 after buying an additional 12,700 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of National Instruments by 3,081.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,000,276 shares of the technology company’s stock valued at $83,271,000 after buying an additional 1,937,399 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of National Instruments by 52.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,459 shares of the technology company’s stock valued at $269,000 after buying an additional 2,218 shares in the last quarter. 76.96% of the stock is owned by institutional investors.
Shares of National Instruments Corp (NASDAQ NATI) opened at $51.27 on Friday. National Instruments Corp has a 12-month low of $31.39 and a 12-month high of $53.57. The company has a market capitalization of $6,905.31, a P/E ratio of 128.18 and a beta of 0.97.
National Instruments (NASDAQ:NATI) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. National Instruments had a return on equity of 10.76% and a net margin of 4.06%. The firm had revenue of $349.80 million during the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. analysts expect that National Instruments Corp will post 1.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Monday, February 12th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.79%. This is a boost from National Instruments’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 9th. National Instruments’s payout ratio is presently 230.01%.
A number of analysts have recently commented on the company. Zacks Investment Research cut National Instruments from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded National Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 3rd. ValuEngine upgraded National Instruments from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Robert W. Baird reiterated a “buy” rating on shares of National Instruments in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus boosted their price target on National Instruments from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. National Instruments has a consensus rating of “Buy” and an average price target of $47.67.
In related news, Director James J. Truchard sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $41.88, for a total transaction of $314,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alexander M. Davern sold 11,925 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $50.31, for a total value of $599,946.75. Following the sale, the chief executive officer now owns 114,938 shares of the company’s stock, valued at $5,782,530.78. The disclosure for this sale can be found here. Insiders have sold 864,866 shares of company stock valued at $43,821,903 over the last quarter. 9.92% of the stock is owned by company insiders.
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National Instruments Company Profile
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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