Public Sector Pension Investment Board Decreases Stake in Proto Labs, Inc. (NYSE:PRLB)

Public Sector Pension Investment Board trimmed its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,359 shares of the industrial products company’s stock after selling 2,300 shares during the quarter. Public Sector Pension Investment Board owned 0.22% of Proto Labs worth $1,567,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRLB. Canada Pension Plan Investment Board purchased a new position in shares of Proto Labs during the 2nd quarter valued at approximately $37,000. Innealta Capital LLC acquired a new stake in shares of Proto Labs in the 2nd quarter valued at about $40,000. KBC Group NV lifted its position in shares of Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 631 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Proto Labs in the second quarter worth about $80,000. Finally, Intech Investment Management LLC bought a new stake in Proto Labs in the third quarter valued at about $232,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Trading Up 3.2 %

NYSE:PRLB opened at $42.68 on Friday. The firm has a market capitalization of $1.05 billion, a PE ratio of 45.40 and a beta of 1.45. Proto Labs, Inc. has a 52 week low of $25.75 and a 52 week high of $42.71. The stock has a 50 day moving average of $34.02 and a 200-day moving average of $31.82.

Proto Labs (NYSE:PRLB) last issued its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The firm had revenue of $125.60 million for the quarter, compared to analyst estimates of $121.38 million. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts predict that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

PRLB has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a report on Friday, November 1st. Craig Hallum raised their price objective on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Proto Labs currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.