Sumitomo Mitsui Asset Management Company LTD cut its position in Pentair PLC. (NYSE:PNR) by 9.2% during the second quarter, Holdings Channel reports. The fund owned 13,117 shares of the industrial products company’s stock after selling 1,323 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Pentair PLC. were worth $872,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Huntington National Bank raised its position 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 worth $100,000 after buying an additional 843 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of Pentair PLC. during the first quarter worth approximately $125,000. First Personal Financial Services raised its position 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 worth $126,000 after buying an additional 300 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position 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 worth $166,000 after buying an additional 157 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position 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 worth $176,000 after buying an additional 1,072 shares during the last quarter. 86.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pentair PLC. (NYSE:PNR) opened at 63.16 on Monday. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $69.03. The firm’s 50-day moving average is $65.56 and its 200 day moving average is $63.06. The stock has a market cap of $11.46 billion, a PE ratio of 18.59 and a beta of 1.38.
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, meeting the Zacks’ consensus estimate of $1.00. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $1.11 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, equities analysts predict 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. Shareholders of record on Friday, July 21st were given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Wednesday, July 19th. Pentair PLC.’s dividend payout ratio (DPR) is 40.71%.
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PNR has been the topic of a number of research analyst reports. TheStreet raised shares of Pentair PLC. from a “c+” rating to a “b” rating in a report on Monday, April 17th. Zacks Investment Research raised shares of Pentair PLC. from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, May 29th. Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 price target 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 target (up previously 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 target on shares of Pentair PLC. in a report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.86.
In other news, insider Mark C. Borin sold 7,500 shares of the business’s stock in a transaction 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 directly owns 16,857 shares of the company’s stock, valued at $1,131,273.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Trian Fund Management, L.P. bought 863,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were bought 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 quarter, insiders have acquired 1,726,000 shares of company stock worth $112,619,140 and have sold 237,500 shares worth $15,706,725. 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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