BlackRock Advisors LLC lowered its stake in shares of Pentair PLC (NYSE:PNR) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 151,952 shares of the company’s stock after selling 3,224 shares during the period. BlackRock Advisors LLC owned about 0.08% of Pentair PLC worth $8,857,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FineMark National Bank & Trust increased its position in Pentair PLC by 0.6% in the second quarter. FineMark National Bank & Trust now owns 1,775 shares of the company’s stock valued at $104,000 after buying an additional 11 shares during the period. Citizens Financial Group Inc RI increased its position in Pentair PLC by 1,057.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,268 shares of the company’s stock valued at $123,000 after buying an additional 2,072 shares during the period. 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 during the period. Mizuho Asset Management Co. Ltd. increased its position in Pentair PLC by 87.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,321 shares of the company’s stock valued at $135,000 after buying an additional 1,083 shares during the period. Finally, NEXT Financial Group Inc increased its position in Pentair PLC by 24.1% in the second quarter. NEXT Financial Group Inc now owns 3,602 shares of the company’s stock valued at $209,000 after buying an additional 700 shares during the period. 90.53% of the stock is owned by institutional investors and hedge funds.
Pentair PLC (NYSE:PNR) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.11 EPS for the quarter, topping 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 firm earned $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Friday, October 21st will be issued a $0.34 dividend. This is a positive change from Pentair PLC’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Wednesday, October 19th. Pentair PLC’s dividend payout ratio (DPR) is presently 52.80%.
Several research analysts have commented on the stock. Vertical Research began coverage on shares of Pentair PLC in a report on Tuesday, July 19th. They set a “hold” rating for the company. 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. Morgan Stanley restated a “hold” rating and set a $68.00 target price on shares of Pentair PLC in a research report on Friday, August 26th. Cowen and Company cut shares of Pentair PLC from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $64.05 to $55.00 in a research report on Thursday, September 1st. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Pentair PLC in a research report on Monday, June 27th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. Pentair PLC has a consensus rating of “Hold” and a consensus price target of $59.81.
In related news, Director T Michael Glenn sold 10,000 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $62.61, for a total value of $626,100.00. Following the sale, the director now owns 22,535 shares in the company, valued at $1,410,916.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark C. Borin sold 13,326 shares of the stock in a transaction 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 completion of the sale, the insider now owns 32,209 shares in the company, valued at approximately $2,099,704.71. 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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