TVR Capital Management LP bought a new stake in shares of Pentair PLC. (NYSE:PNR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the industrial products company’s stock, valued at approximately $665,000.
A number of other hedge funds also recently modified their holdings of PNR. Huntington National Bank boosted its holdings in Pentair PLC. by 126.8% during the 2nd quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 843 shares during the period. Korea Investment CORP lifted its holdings in Pentair PLC. by 142.7% in the 2nd quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after buying an additional 942 shares during the period. YorkBridge Wealth Partners LLC lifted its holdings in Pentair PLC. by 6.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock worth $123,000 after buying an additional 111 shares during the period. FNY Partners Fund LP purchased a new stake in Pentair PLC. in the 1st quarter worth approximately $125,000. Finally, Penserra Capital Management LLC lifted its holdings in Pentair PLC. by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,444 shares of the industrial products company’s stock worth $162,000 after buying an additional 282 shares during the period. Institutional investors own 85.51% of the company’s stock.
A number of research firms have recently commented on PNR. BidaskClub cut Pentair PLC. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. KeyCorp restated a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a research note on Thursday, October 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $74.00 price objective (up previously from $70.00) on shares of Pentair PLC. in a research report on Monday, October 2nd. 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 research report on Wednesday, July 12th. Finally, Cowen and Company reaffirmed an “underperform” rating and issued a $61.00 price objective (up previously from $59.00) on shares of Pentair PLC. in a report on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Pentair PLC. has a consensus rating of “Hold” and an average price target of $68.15.
Shares of Pentair PLC. (NYSE:PNR) traded down 0.14% during mid-day trading on Tuesday, hitting $71.00. The company had a trading volume of 301,327 shares. The firm has a 50-day moving average price of $65.99 and a 200 day moving average price of $64.88. Pentair PLC. has a 52-week low of $53.80 and a 52-week high of $71.36. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 20.90 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.00. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 earnings per share. Analysts expect that Pentair PLC. will post $3.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, October 19th. Pentair PLC.’s dividend payout ratio is currently 40.71%.
In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the transaction, the director now owns 21,538 shares of the company’s stock, valued at $1,443,046. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 9.90% 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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