Principal Financial Group Inc. raised its stake in Pentair PLC (NYSE:PNR) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 262,767 shares of the company’s stock after buying an additional 3,911 shares during the period. Principal Financial Group Inc. owned 0.15% of Pentair PLC worth $15,317,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Brown Advisory Inc. increased its position in shares of Pentair PLC by 7.2% in the second quarter. Brown Advisory Inc. now owns 7,643 shares of the company’s stock worth $446,000 after buying an additional 515 shares during the period. Prudential Financial Inc. increased its position in shares of Pentair PLC by 8.1% in the second quarter. Prudential Financial Inc. now owns 276,093 shares of the company’s stock worth $16,093,000 after buying an additional 20,582 shares during the period. Parnassus Investments CA increased its position in shares of Pentair PLC by 3.6% in the second quarter. Parnassus Investments CA now owns 7,924,326 shares of the company’s stock worth $461,909,000 after buying an additional 275,929 shares during the period. Teacher Retirement System of Texas increased its position in shares of Pentair PLC by 25.0% in the second quarter. Teacher Retirement System of Texas now owns 12,271 shares of the company’s stock worth $715,000 after buying an additional 2,455 shares during the period. Finally, Financial Counselors Inc. purchased a new position in shares of Pentair PLC during the second quarter worth approximately $4,206,000. 90.53% of the stock is currently owned by hedge funds and other institutional investors.
Pentair PLC (NYSE:PNR) traded down 1.28% during trading on Friday, reaching $60.78. The company’s stock had a trading volume of 64,642 shares. The company’s 50 day moving average price is $62.49 and its 200-day moving average price is $59.99. Pentair PLC has a 1-year low of $41.57 and a 1-year high of $66.99. The stock’s market cap is $11.01 billion.
Pentair PLC (NYSE:PNR) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ 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 earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Pentair PLC will post $3.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 4th. Investors of record on Friday, October 21st will be issued a dividend of $0.34 per share. This is a boost from Pentair PLC’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 2.21%. The ex-dividend date is Wednesday, October 19th. Pentair PLC’s dividend payout ratio (DPR) is presently 52.80%.
PNR has been the subject of a number of recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of Pentair PLC in a research report on Monday, June 27th. BMO Capital Markets lifted 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. Cowen and Company cut shares of Pentair PLC from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $64.05 to $55.00 in a research report on Thursday, September 1st. Zacks Investment Research cut shares of Pentair PLC from a “hold” rating to a “strong sell” rating in a research report on Monday, August 29th. Finally, Morgan Stanley reiterated a “hold” rating and set a $68.00 price target on shares of Pentair PLC in a research report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.81.
In related news, Director T Michael Glenn sold 10,000 shares of Pentair PLC stock in a transaction that occurred 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 completion of the sale, the director now directly owns 22,535 shares of the company’s stock, valued at approximately $1,410,916.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Randall J. Hogan sold 102,282 shares of Pentair PLC stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.00, for a total value of $6,546,048.00. Following the sale, the chairman now directly owns 104,904 shares of the company’s stock, valued at $6,713,856. The disclosure for this sale can be found here. Corporate 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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