Truvestments Capital LLC Lowers Stock Position in Benchmark Electronics, Inc. (NYSE:BHE)

Truvestments Capital LLC trimmed its position in Benchmark Electronics, Inc. (NYSE:BHE) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,946 shares of the technology company’s stock after selling 2,965 shares during the quarter. Truvestments Capital LLC’s holdings in Benchmark Electronics were worth $529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY increased its stake in shares of Benchmark Electronics by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company’s stock worth $602,000 after purchasing an additional 263 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Benchmark Electronics by 65.7% in the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after acquiring an additional 272 shares in the last quarter. Versor Investments LP lifted its position in shares of Benchmark Electronics by 2.2% in the third quarter. Versor Investments LP now owns 14,115 shares of the technology company’s stock valued at $626,000 after acquiring an additional 300 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Benchmark Electronics by 4.0% in the third quarter. Inspire Investing LLC now owns 9,346 shares of the technology company’s stock worth $414,000 after acquiring an additional 362 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of Benchmark Electronics by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company’s stock worth $714,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BHE. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday. Lake Street Capital upped their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC lifted their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.33.

Insider Activity

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the sale, the senior vice president now owns 47,991 shares in the company, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 424,173 shares in the company, valued at approximately $19,469,540.70. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Benchmark Electronics Stock Performance

NYSE:BHE opened at $48.52 on Tuesday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 28.21 and a beta of 0.97. Benchmark Electronics, Inc. has a 1 year low of $24.75 and a 1 year high of $52.57. The stock’s 50 day simple moving average is $45.32 and its two-hundred day simple moving average is $42.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $650.00 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. Benchmark Electronics’s quarterly revenue was down 8.6% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.17 per share. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s payout ratio is presently 39.53%.

Benchmark Electronics Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.