Conning Inc. increased its position in Pentair PLC (NYSE:PNR) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 4,400 shares of the company’s stock after buying an additional 20 shares during the period. Conning Inc.’s holdings in Pentair PLC were worth $256,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in PNR. Alpine Investment Management LLC acquired a new position in shares of Pentair PLC during the first quarter worth $62,461,000. State Street Corp increased 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 worth $618,480,000 after buying an additional 934,908 shares in the last quarter. AXA increased its position in shares of Pentair PLC by 2,815.7% in the first quarter. AXA now owns 921,356 shares of the company’s stock worth $49,993,000 after buying an additional 889,756 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Pentair PLC by 50.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,019,958 shares of the company’s stock worth $55,344,000 after buying an additional 340,024 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Pentair PLC by 41.8% in the first quarter. Royal Bank of Canada now owns 1,016,692 shares of the company’s stock worth $55,164,000 after buying an additional 299,610 shares in the last quarter. 90.53% of the stock is owned by institutional investors.
Shares of Pentair PLC (NYSE:PNR) traded up 0.08% during mid-day trading on Wednesday, hitting $62.23. 1,410,282 shares of the stock traded hands. The firm has a 50 day moving average of $62.63 and a 200 day moving average of $59.98. The stock’s market cap is $11.27 billion. Pentair PLC has a 12 month low of $41.57 and a 12 month high of $66.99.
Pentair PLC (NYSE:PNR) last announced its earnings results on Thursday, July 28th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The company earned $1.70 billion during the quarter, compared to the consensus estimate of $1.72 billion. Pentair PLC had a net margin of 6.91% and a return on equity of 17.25%. During the same period last year, the firm earned $1.08 earnings per share. Pentair PLC’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Pentair PLC will post $3.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Friday, October 21st will be paid a dividend of $0.34 per share. This is an increase from Pentair PLC’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, October 19th. Pentair PLC’s payout ratio is presently 52.80%.
A number of equities analysts have weighed in on the stock. Vertical Research assumed coverage on shares of Pentair PLC in a research note on Tuesday, July 19th. They set a “hold” rating for the company. Seaport Global Securities raised shares of Pentair PLC from a “neutral” rating to a “buy” rating and raised their price target for the company from $59.00 to $70.00 in a research report on Friday, June 10th. Robert W. Baird reissued a “neutral” rating and set a $60.00 price target on shares of Pentair PLC in a research report on Tuesday, June 7th. BMO Capital Markets raised their price target on shares of Pentair PLC from $57.00 to $65.79 and gave the company a “market perform” rating in a research report on Monday, August 22nd. Finally, Buckingham Research reissued a “neutral” rating and set a $62.00 price target on shares of Pentair PLC in a research report on Sunday, August 21st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $59.81.
In other news, Chairman Randall J. Hogan sold 3,200 shares of Pentair PLC stock in a transaction on Friday, July 15th. The shares were sold at an average price of $64.00, for a total transaction of $204,800.00. Following the completion of the sale, the chairman now directly owns 5,522 shares in the company, valued at $353,408. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Randall J. Hogan sold 102,282 shares of Pentair PLC stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $64.00, for a total transaction of $6,546,048.00. Following the sale, the chairman now owns 104,904 shares of the company’s stock, valued at $6,713,856. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Pentair PLC Company Profile
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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