Brown Advisory Inc. increased its stake in shares of Pentair PLC (NYSE:PNR) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 7,643 shares of the company’s stock after buying an additional 515 shares during the period. Brown Advisory Inc.’s holdings in Pentair PLC were worth $446,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc increased its position in Pentair PLC by 168.9% in the first quarter. Commonwealth Equity Services Inc now owns 24,129 shares of the company’s stock valued at $1,309,000 after buying an additional 15,157 shares in the last quarter. Aperio Group LLC increased its position in Pentair PLC by 47.8% in the first quarter. Aperio Group LLC now owns 90,077 shares of the company’s stock valued at $4,888,000 after buying an additional 29,144 shares in the last quarter. Virginia Retirement System bought a new position in Pentair PLC during the first quarter valued at $1,960,000. IFP Advisors Inc increased its position in Pentair PLC by 6.8% in the first quarter. IFP Advisors Inc now owns 2,380 shares of the company’s stock valued at $129,000 after buying an additional 151 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in Pentair PLC by 9.1% in the first quarter. TIAA CREF Investment Management LLC now owns 334,492 shares of the company’s stock valued at $18,150,000 after buying an additional 28,009 shares in the last quarter. 90.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pentair PLC (NYSE:PNR) traded down 0.54% on Monday, hitting $63.89. The stock had a trading volume of 146,741 shares. Pentair PLC has a 12-month low of $41.57 and a 12-month high of $66.99. The stock has a 50 day moving average price of $62.93 and a 200-day moving average price of $59.70. The company’s market cap is $11.57 billion.
Pentair PLC (NYSE:PNR) last released its earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. Pentair PLC had a return on equity of 17.25% and a net margin of 6.91%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Pentair PLC will post $3.12 earnings per share for the current year.
PNR has been the topic of several research analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Pentair PLC in a research report on Tuesday, June 7th. Seaport Global Securities raised Pentair PLC from a “neutral” rating to a “buy” rating and upped their price objective for the company from $59.00 to $70.00 in a research report on Friday, June 10th. FBR & Co raised Pentair PLC from a “market perform” rating to an “outperform” rating in a research report on Friday, June 10th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Pentair PLC in a research report on Monday, June 27th. Finally, Vertical Research initiated coverage on Pentair PLC in a research report on Tuesday, July 19th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $59.81.
In related news, insider Mark C. Borin sold 13,326 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $65.19, for a total value of $868,721.94. Following the sale, the insider now owns 32,209 shares in the company, valued at approximately $2,099,704.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Randall J. Hogan sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $64.00, for a total value of $204,800.00. Following the completion of the sale, the chairman now owns 5,522 shares in the company, valued at approximately $353,408. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
About Pentair PLC
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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