Ladenburg Thalmann Financial Services Inc. reduced its stake in Pentair PLC (NYSE:PNR) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,796 shares of the industrial products company’s stock after selling 2,414 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Pentair were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of PNR. Private Capital Group LLC boosted its position in shares of Pentair by 445.0% in the 2nd quarter. Private Capital Group LLC now owns 594 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 485 shares in the last quarter. Personal Wealth Partners bought a new stake in shares of Pentair in the 2nd quarter worth approximately $40,000. CSat Investment Advisory L.P. boosted its position in shares of Pentair by 41.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,497 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 442 shares in the last quarter. Huntington National Bank boosted its position in shares of Pentair by 25.0% in the 2nd quarter. Huntington National Bank now owns 1,519 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 304 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Pentair in the 2nd quarter worth approximately $65,000. 85.76% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on PNR shares. Morgan Stanley boosted their price target on Pentair from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. ValuEngine raised Pentair from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group started coverage on Pentair in a research report on Friday, September 20th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Pentair currently has an average rating of “Hold” and a consensus target price of $45.17.
Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $799.50 million for the quarter, compared to analysts’ expectations of $790.62 million. Pentair had a return on equity of 21.15% and a net margin of 12.54%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. On average, research analysts predict that Pentair PLC will post 2.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.72 annualized dividend and a yield of 1.93%. Pentair’s dividend payout ratio (DPR) is presently 30.64%.
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.
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