Argent Capital Management LLC lessened its stake in shares of Pentair PLC. (NYSE:PNR) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 622,740 shares of the industrial products company’s stock after selling 11,820 shares during the period. Pentair PLC. makes up approximately 1.7% of Argent Capital Management LLC’s holdings, making the stock its 24th largest holding. Argent Capital Management LLC owned approximately 0.34% of Pentair PLC. worth $41,437,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PNR. Vanguard Group Inc. increased its stake in Pentair PLC. by 2.5% in the second quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock worth $1,075,249,000 after purchasing an additional 392,842 shares during the period. Trian Fund Management L.P. grew its position in shares of Pentair PLC. by 6.0% during the 2nd quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after buying an additional 862,769 shares in the last quarter. BlackRock Inc. grew its position in shares of Pentair PLC. by 5.1% during the 2nd quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock worth $808,662,000 after buying an additional 588,818 shares in the last quarter. State Street Corp grew its position in shares of Pentair PLC. by 1.6% during the 1st quarter. State Street Corp now owns 11,282,638 shares of the industrial products company’s stock worth $708,327,000 after buying an additional 180,937 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Pentair PLC. by 16.1% during the 1st 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. Institutional investors own 85.51% of the company’s stock.
Pentair PLC. (PNR) traded down 0.59% during trading on Tuesday, reaching $70.68. The company’s stock had a trading volume of 380,265 shares. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $71.36. The company has a market capitalization of $12.83 billion, a PE ratio of 20.81 and a beta of 1.41. The company has a 50 day moving average price of $65.99 and a 200-day moving average price of $64.88.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) 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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that Pentair PLC. will post $3.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be issued 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 of this dividend is Thursday, October 19th. Pentair PLC.’s dividend payout ratio (DPR) is 40.71%.
In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the completion of the sale, the director now directly owns 21,538 shares in the company, valued at $1,443,046. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.90% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on PNR shares. Stifel Nicolaus reissued a “hold” rating and issued a $67.00 price target on shares of Pentair PLC. in a report on Wednesday, October 4th. KeyCorp restated a “buy” rating and issued a $77.00 price objective on shares of Pentair PLC. in a research note on Thursday, October 12th. BidaskClub cut Pentair PLC. from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Zacks Investment Research cut Pentair PLC. from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $74.00 price objective (up from $70.00) on shares of Pentair PLC. in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $68.15.
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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