Baird Financial Group Inc. Lowers Stake in Pentair PLC. (PNR)

Baird Financial Group Inc. lowered its position in shares of Pentair PLC. (NYSE:PNR) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,862 shares of the industrial products company’s stock after selling 1,512 shares during the period. Baird Financial Group Inc.’s holdings in Pentair PLC. were worth $1,184,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Tiedemann Wealth Management LLC raised its stake in shares of Pentair PLC. by 21.4% in the first quarter. Tiedemann Wealth Management LLC now owns 7,877 shares of the industrial products company’s stock worth $495,000 after buying an additional 1,390 shares during the period. Keybank National Association OH raised its stake in shares of Pentair PLC. by 0.6% in the first quarter. Keybank National Association OH now owns 4,329 shares of the industrial products company’s stock worth $272,000 after buying an additional 24 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Pentair PLC. by 2.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 349,554 shares of the industrial products company’s stock worth $21,945,000 after buying an additional 8,039 shares during the period. Quantitative Investment Management LLC bought a new stake in shares of Pentair PLC. during the first quarter worth about $1,782,000. Finally, Sound Shore Management Inc. CT bought a new stake in shares of Pentair PLC. during the first quarter worth about $133,129,000. 86.67% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Pentair PLC. (NYSE:PNR)

Shares of Pentair PLC. (NYSE:PNR) opened at 66.68 on Friday. The company has a 50-day moving average price of $65.88 and a 200-day moving average price of $61.34. The company has a market capitalization of $12.15 billion, a P/E ratio of 24.27 and a beta of 1.33. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $69.03.

Pentair PLC. (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. Pentair PLC. had a return on equity of 14.19% and a net margin of 9.46%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts forecast that Pentair PLC. will post $3.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, July 19th. Pentair PLC.’s dividend payout ratio (DPR) is presently 50.37%.

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A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Pentair PLC. from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Wednesday. Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $61.00 target price on shares of Pentair PLC. in a report on Thursday, June 1st. Cowen and Company raised their target price on shares of Pentair PLC. from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Finally, BMO Capital Markets raised their target price on shares of Pentair PLC. from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Pentair PLC. currently has an average rating of “Hold” and an average price target of $66.46.

In related news, Director T Michael Glenn sold 7,161 shares of the stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $65.00, for a total transaction of $465,465.00. Following the transaction, the director now owns 23,357 shares of the company’s stock, valued at approximately $1,518,205. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Randall J. Hogan sold 110,325 shares of the stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $65.00, for a total value of $7,171,125.00. Following the transaction, the chairman now directly owns 198,111 shares in the company, valued at approximately $12,877,215. The disclosure for this sale can be found here. In the last ninety days, insiders bought 1,726,000 shares of company stock worth $112,619,140 and sold 356,353 shares worth $23,432,170. Corporate 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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