Whittier Trust Co. of Nevada Inc. continued to hold its stake in Pentair PLC. (NYSE:PNR) during the second quarter, Holdings Channel reports. The fund owned 2,985 shares of the industrial products company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Pentair PLC. were worth $199,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Pentair PLC. by 3.7% in the first quarter. Vanguard Group Inc. now owns 15,766,592 shares of the industrial products company’s stock valued at $989,827,000 after buying an additional 557,786 shares in the last quarter. BlackRock Inc. increased its position in 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 valued at $726,001,000 after buying an additional 10,874,699 shares during the last quarter. State Street Corp increased its position in Pentair PLC. by 1.6% in the first quarter. State Street Corp now owns 11,282,638 shares of the industrial products company’s stock valued at $708,327,000 after buying an additional 180,937 shares during the last quarter. Parnassus Investments CA increased its position in Pentair PLC. by 1.3% in the first quarter. Parnassus Investments CA now owns 9,038,266 shares of the industrial products company’s stock valued at $551,514,000 after buying an additional 114,323 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in 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 valued at $385,087,000 after buying an additional 850,370 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.
Shares of Pentair PLC. (NYSE:PNR) traded down 0.55% during midday trading on Friday, reaching $64.77. The company had a trading volume of 865,826 shares. The firm has a market capitalization of $11.80 billion, a P/E ratio of 23.58 and a beta of 1.40. Pentair PLC. has a one year low of $53.80 and a one year high of $69.03. The company has a 50 day moving average price of $66.07 and a 200-day moving average price of $62.70.
Pentair PLC. (NYSE:PNR) last issued its earnings results on Tuesday, April 25th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Pentair PLC. had a net margin of 9.46% and a return on equity of 14.19%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that Pentair PLC. will post $3.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be issued a dividend of $0.345 per share. The ex-dividend date is Wednesday, July 19th. This represents a $1.38 dividend on an annualized basis and a yield of 2.13%. Pentair PLC.’s payout ratio is 50.37%.
PNR has been the topic of several research reports. TheStreet raised Pentair PLC. from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Zacks Investment Research raised Pentair PLC. from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, May 29th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a research report on Tuesday, June 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $61.00 target price on shares of Pentair PLC. in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC upped their target price on Pentair PLC. from $58.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.85.
In other Pentair PLC. news, Director T Michael Glenn sold 7,161 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $65.00, for a total transaction of $465,465.00. Following the sale, the director now owns 23,357 shares of the company’s stock, valued at approximately $1,518,205. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Randall J. Hogan sold 220,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $66.03, for a total transaction of $14,526,600.00. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,726,000 shares of company stock worth $112,619,140 and have sold 356,353 shares worth $23,432,170. 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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