Whittier Trust Co. of Nevada Inc. held its position in Pentair PLC (NYSE:PNR) during the second quarter, Holdings Channel reports. The fund owned 3,016 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Pentair PLC were worth $176,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake 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 during the period. BlackRock Institutional Trust Company N.A. increased its stake 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 worth $252,463,000 after buying an additional 39,437 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $80,760,000 after buying an additional 47,150 shares in the last quarter. UBS Asset Management Americas Inc. increased 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. Finally, Royal Bank of Canada increased its stake in 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. Hedge funds and other institutional investors own 90.53% of the company’s stock.
Pentair PLC (NYSE:PNR) traded up 0.61% during midday trading on Wednesday, reaching $59.51. The company’s stock had a trading volume of 471,636 shares. The stock has a 50-day moving average price of $61.96 and a 200 day moving average price of $60.17. Pentair PLC has a 12 month low of $41.57 and a 12 month high of $66.99. The company’s market cap is $10.78 billion.
Pentair PLC (NYSE:PNR) last posted its earnings results on Thursday, July 28th. The company reported $1.11 EPS 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 firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that Pentair PLC will post $3.12 earnings per share for the current fiscal year.
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 paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.36 annualized dividend and a dividend yield of 2.30%. This is a positive change from Pentair PLC’s previous quarterly dividend of $0.33. Pentair PLC’s dividend payout ratio (DPR) is presently 52.80%.
A number of analysts recently issued reports on the company. Vertical Research assumed coverage on Pentair PLC in a research report on Tuesday, July 19th. They issued a “hold” rating on the stock. Zacks Investment Research downgraded Pentair PLC from a “hold” rating to a “strong sell” rating in a research report on Monday, August 29th. Morgan Stanley reissued a “hold” rating and set a $68.00 price target on shares of Pentair PLC in a research report on Friday, August 26th. Cowen and Company downgraded Pentair PLC from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $64.05 to $55.00 in a research report on Thursday, September 1st. Finally, Sanford C. Bernstein reissued 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 assigned a hold rating and six have given a buy rating to the company. Pentair PLC has a consensus rating of “Hold” and an average target price of $59.81.
In related news, Director Glynis Bryan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the transaction, the director now owns 26,487 shares in the company, valued at $1,721,655. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark C. Borin sold 13,326 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $65.19, for a total value of $868,721.94. Following the completion of the transaction, 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. 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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