Commerce Bank lessened its holdings in Pentair PLC. (NYSE:PNR) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,219 shares of the industrial products company’s stock after selling 161 shares during the period. Commerce Bank’s holdings in Pentair PLC. were worth $480,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of PNR. BlackRock Inc. raised its position in shares of Pentair PLC. by 1,577.2% in the first quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock worth $726,001,000 after buying an additional 10,874,699 shares in the last quarter. Sound Shore Management Inc. CT purchased a new stake in shares of Pentair PLC. in the first quarter worth $133,129,000. Clearbridge Investments LLC raised its position in shares of Pentair PLC. by 16.1% in the first quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock worth $385,087,000 after buying an additional 850,370 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Pentair PLC. in the first quarter worth $45,224,000. Finally, FMR LLC raised its position in shares of Pentair PLC. by 16.0% in the first quarter. FMR LLC now owns 4,293,038 shares of the industrial products company’s stock worth $269,517,000 after buying an additional 591,429 shares in the last quarter. Institutional investors own 85.59% of the company’s stock.
Pentair PLC. (NYSE:PNR) opened at 64.99 on Friday. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $69.03. The stock’s 50 day moving average price is $62.21 and its 200-day moving average price is $63.68. The company has a market capitalization of $11.79 billion, a PE ratio of 19.13 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last announced its 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 firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. On average, equities research analysts predict that Pentair PLC. will post $3.51 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Wolfe Research began coverage on Pentair PLC. in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a research note on Wednesday, July 12th. BMO Capital Markets increased their target price on Pentair PLC. from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, May 24th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $59.00 target price on shares of Pentair PLC. in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.23.
Pentair PLC. 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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