Capital Fund Management S.A. acquired a new stake in Pentair PLC (NYSE:PNR) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,154 shares of the company’s stock, valued at approximately $650,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PNR. AXA raised its stake in 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. raised its stake in 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. State Street Corp raised its stake in 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. BB&T Securities LLC raised its stake in Pentair PLC by 150.0% in the first quarter. BB&T Securities LLC now owns 82,550 shares of the company’s stock worth $4,479,000 after buying an additional 49,535 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Pentair PLC during the first quarter worth approximately $629,000. Hedge funds and other institutional investors own 90.53% of the company’s stock.
Shares of Pentair PLC (NYSE:PNR) traded down 1.05% during midday trading on Tuesday, reaching $59.15. 1,340,641 shares of the company’s stock traded hands. The stock has a 50 day moving average of $62.14 and a 200-day moving average of $60.18. Pentair PLC has a 12 month low of $41.57 and a 12 month high of $66.99. The stock’s market cap is $10.71 billion.
Pentair PLC (NYSE:PNR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. Pentair PLC had a net margin of 6.91% and a return on equity of 17.25%. The company earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the company posted $1.08 earnings per share. Pentair PLC’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Pentair PLC will post $3.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Friday, October 21st will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, October 19th. This is a boost from Pentair PLC’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 2.30%. Pentair PLC’s dividend payout ratio is 52.80%.
Several equities analysts have recently issued reports on the stock. Credit Suisse Group AG assumed coverage on shares of Pentair PLC in a report on Monday, September 26th. They issued a “neutral” rating and a $66.00 price target for the company. Cowen and Company lowered shares of Pentair PLC from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $64.05 to $55.00 in a report on Thursday, September 1st. Zacks Investment Research lowered shares of Pentair PLC from a “hold” rating to a “strong sell” rating in a report on Monday, August 29th. Morgan Stanley reissued a “hold” rating and issued a $68.00 price target on shares of Pentair PLC in a report on Friday, August 26th. Finally, BMO Capital Markets boosted their price target on shares of Pentair PLC from $57.00 to $65.79 and gave the company a “market perform” rating in a report on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $59.81.
In other news, Chairman Randall J. Hogan sold 102,282 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $64.00, for a total transaction of $6,546,048.00. Following the completion of the sale, the chairman now directly owns 104,904 shares in the company, valued at $6,713,856. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Randall J. Hogan sold 3,200 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $64.00, for a total transaction of $204,800.00. Following the sale, the chairman now owns 5,522 shares of the company’s stock, valued at $353,408. The disclosure for this sale can be found here. 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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