Pentair PLC (NYSE:PNR) declared a quarterly dividend on Tuesday, October 4th. Investors of record on Friday, October 21st will be paid a dividend of 0.34 per share on Friday, November 4th. This represents a $1.36 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, October 19th. This is a positive change from Pentair PLC’s previous quarterly dividend of $0.33.
Pentair PLC (NYSE:PNR) opened at 58.81 on Friday. The company has a 50-day moving average price of $61.64 and a 200-day moving average price of $60.16. Pentair PLC has a one year low of $41.57 and a one year high of $66.99. The company’s market capitalization is $10.65 billion.
Pentair PLC (NYSE:PNR) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (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 business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous 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. Analysts expect that Pentair PLC will post $3.12 earnings per share for the current fiscal year.
In related news, Director T Michael Glenn sold 10,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were 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 owns 22,535 shares of the company’s stock, valued at approximately $1,410,916.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark C. Borin sold 13,326 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $65.19, for a total transaction of $868,721.94. Following the sale, the insider now directly owns 32,209 shares of the company’s stock, valued at approximately $2,099,704.71. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Pentair PLC by 278.1% in the second quarter. FMR LLC now owns 5,491,991 shares of the company’s stock valued at $320,129,000 after buying an additional 4,039,536 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Pentair PLC during the second quarter valued at about $28,830,000. Thrivent Financial for Lutherans boosted its stake in shares of Pentair PLC by 5,844.8% in the second quarter. Thrivent Financial for Lutherans now owns 316,797 shares of the company’s stock valued at $18,466,000 after buying an additional 311,468 shares in the last quarter. Allianz Asset Management AG boosted its stake in shares of Pentair PLC by 348.9% in the second quarter. Allianz Asset Management AG now owns 305,715 shares of the company’s stock valued at $17,821,000 after buying an additional 237,616 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Pentair PLC by 236.9% in the second quarter. Lord Abbett & CO. LLC now owns 274,200 shares of the company’s stock valued at $15,983,000 after buying an additional 192,800 shares in the last quarter. 90.53% of the stock is owned by institutional investors.
Several equities analysts have issued reports on PNR shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Pentair PLC in a report on Monday, June 27th. BMO Capital Markets boosted their price objective 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. Cowen and Company lowered shares of Pentair PLC from a “market perform” rating to an “underperform” rating and dropped their price objective 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. Finally, Morgan Stanley reissued a “hold” rating and set a $68.00 price objective on shares of Pentair PLC in a report on Friday, August 26th. Two research 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’s stock. The stock has an average rating of “Hold” and a consensus price target of $59.81.
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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