Victory Capital Management Inc. increased its stake in shares of Pentair PLC (NYSE:PNR) by 47.6% during the second quarter, Holdings Channel reports. The fund owned 5,040 shares of the company’s stock after buying an additional 1,626 shares during the period. Victory Capital Management Inc.’s holdings in Pentair PLC were worth $294,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Pentair PLC by 8.9% in the first quarter. State Street Corp now owns 11,398,425 shares of the company’s stock valued at $618,480,000 after buying an additional 934,908 shares during the last quarter. Franklin Resources Inc. boosted its position in Pentair PLC by 1.0% in the first quarter. Franklin Resources Inc. now owns 8,504,908 shares of the company’s stock valued at $461,476,000 after buying an additional 82,320 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Pentair PLC by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,652,844 shares of the company’s stock valued at $252,463,000 after buying an additional 39,437 shares in the last quarter. Geode Capital Management LLC boosted its position in Pentair PLC by 3.3% in the first quarter. Geode Capital Management LLC now owns 1,491,423 shares of the company’s stock valued at $80,760,000 after buying an additional 47,150 shares in the last quarter. Finally, Alpine Investment Management LLC acquired a new position in Pentair PLC during the first quarter valued at $62,461,000. 90.53% of the stock is currently owned by institutional investors.
Pentair PLC (NYSE:PNR) traded down 0.521% during trading on Monday, hitting $63.905. The stock had a trading volume of 445,089 shares. The company has a 50-day moving average of $62.93 and a 200 day moving average of $59.70. The firm’s market cap is $11.57 billion. Pentair PLC has a 52-week low of $41.57 and a 52-week high of $66.99.
Pentair PLC (NYSE:PNR) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.02. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.72 billion. Pentair PLC had a return on equity of 17.25% and a net margin of 6.91%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. On average, equities research analysts predict that Pentair PLC will post $3.12 earnings per share for the current fiscal year.
PNR has been the topic of several research analyst reports. Zacks Investment Research cut Pentair PLC from a “hold” rating to a “strong sell” rating in a research report on Monday, August 29th. Cowen and Company cut Pentair PLC from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $64.05 to $55.00 in a research report on Thursday, September 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of Pentair PLC in a research report on Monday, June 27th. Credit Suisse Group AG initiated coverage on Pentair PLC in a research report on Monday, September 26th. They issued a “neutral” rating and a $66.00 price objective on the stock. Finally, Morgan Stanley reissued a “hold” rating and issued a $68.00 price objective on shares of Pentair PLC in a research report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. Pentair PLC presently has an average rating of “Hold” and an average target price of $59.81.
In related news, Director T Michael Glenn sold 10,000 shares of Pentair PLC stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $62.61, for a total transaction of $626,100.00. Following the transaction, the director now directly owns 22,535 shares in the company, valued at $1,410,916.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Randall J. Hogan sold 102,282 shares of Pentair PLC stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $64.00, for a total value of $6,546,048.00. Following the transaction, the chairman now owns 104,904 shares in the company, valued at $6,713,856. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
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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