Public Employees Retirement Association of Colorado cut its stake in shares of Pentair PLC. (NYSE:PNR) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 33,553 shares of the industrial products company’s stock after selling 59 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Pentair PLC. were worth $2,233,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Huntington National Bank raised its stake in shares of Pentair PLC. by 126.8% in the second quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock valued at $100,000 after buying an additional 843 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Pentair PLC. during the first quarter valued at $125,000. First Personal Financial Services raised its stake in shares of Pentair PLC. by 17.6% in the first quarter. First Personal Financial Services now owns 2,006 shares of the industrial products company’s stock valued at $126,000 after buying an additional 300 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Pentair PLC. by 6.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,641 shares of the industrial products company’s stock valued at $166,000 after buying an additional 157 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Pentair PLC. by 62.2% in the first quarter. Advisors Asset Management Inc. now owns 2,796 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,072 shares in the last quarter. 86.77% of the stock is owned by hedge funds and other institutional investors.
Pentair PLC. (PNR) opened at 62.37 on Thursday. The company has a 50-day moving average price of $64.89 and a 200-day moving average price of $63.17. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 18.36 and a beta of 1.38. Pentair PLC. has a one year low of $53.80 and a one year high of $69.03.
Pentair PLC. (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.11 earnings per share. Equities research analysts anticipate that Pentair PLC. will post $3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Friday, July 21st were issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, July 19th. Pentair PLC.’s payout ratio is 40.71%.
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PNR has been the subject of several research analyst reports. TheStreet raised Pentair PLC. from a “c+” rating to a “b” rating in a report on Monday, April 17th. Zacks Investment Research raised Pentair PLC. from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, May 29th. Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 price objective on shares of Pentair PLC. in a report on Tuesday, June 6th. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 price objective (up from $69.00) on shares of Pentair PLC. in a report on Wednesday, July 26th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $61.00 price objective on shares of Pentair PLC. in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $66.86.
In other news, insider Mark C. Borin sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $67.11, for a total transaction of $503,325.00. Following the completion of the sale, the insider now owns 16,857 shares of the company’s stock, valued at $1,131,273.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Trian Fund Management, L.P. acquired 863,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average cost of $65.25 per share, with a total value of $56,310,750.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,726,000 shares of company stock valued at $112,619,140 and have sold 237,500 shares valued at $15,706,725. Company insiders own 9.90% of the company’s stock.
Pentair PLC. Company Profile
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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