Henderson Group PLC reduced its stake in shares of Pentair PLC (NYSE:PNR) by 41.7% during the second quarter, Holdings Channel reports. The firm owned 124,250 shares of the company’s stock after selling 88,743 shares during the period. Henderson Group PLC’s holdings in Pentair PLC were worth $7,244,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Citizens Financial Group Inc RI raised its position in Pentair PLC by 1,057.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,268 shares of the company’s stock worth $123,000 after buying an additional 2,072 shares during the last quarter. NEXT Financial Group Inc raised its position in Pentair PLC by 24.1% in the second quarter. NEXT Financial Group Inc now owns 3,602 shares of the company’s stock worth $209,000 after buying an additional 700 shares during the last quarter. Cleararc Capital Inc. raised its position in Pentair PLC by 1.1% in the first quarter. Cleararc Capital Inc. now owns 4,466 shares of the company’s stock worth $242,000 after buying an additional 47 shares during the last quarter. Boys Arnold & Co. Inc. purchased a new position in Pentair PLC during the second quarter worth about $242,000. Finally, Gofen & Glossberg LLC IL raised its position in Pentair PLC by 1.4% in the second quarter. Gofen & Glossberg LLC IL now owns 4,167 shares of the company’s stock worth $243,000 after buying an additional 58 shares during the last quarter. 90.45% of the stock is owned by institutional investors and hedge funds.
Pentair PLC (NYSE:PNR) traded up 0.44% during mid-day trading on Monday, reaching $59.00. 1,128,584 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $61.50 and a 200-day moving average price of $60.20. The stock’s market cap is $10.68 billion. Pentair PLC has a 1-year low of $41.57 and a 1-year high of $66.99.
Pentair PLC (NYSE:PNR) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. Pentair PLC had a return on equity of 17.25% and a net margin of 6.91%. The firm earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Pentair PLC will post $3.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Investors of record on Friday, October 21st will be issued a $0.34 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.36 annualized dividend and a dividend yield of 2.31%. This is a positive change from Pentair PLC’s previous quarterly dividend of $0.33. Pentair PLC’s payout ratio is presently 52.80%.
A number of research firms have commented on PNR. Vertical Research began coverage on shares of Pentair PLC in a research report on Tuesday, July 19th. They set a “hold” rating on the stock. BMO Capital Markets boosted their price target on shares of Pentair PLC from $57.00 to $65.79 and gave the stock a “market perform” rating in a research report on Monday, August 22nd. Buckingham Research restated a “neutral” rating and set a $62.00 price target on shares of Pentair PLC in a research report on Sunday, August 21st. Morgan Stanley restated a “hold” rating and set a $68.00 price target on shares of Pentair PLC in a research report on Friday, August 26th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Pentair PLC in a research report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.81.
In related news, Director Glynis Bryan sold 10,000 shares of Pentair PLC stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the completion of the sale, the director now owns 26,487 shares of the company’s stock, valued at $1,721,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Randall J. Hogan sold 102,282 shares of Pentair PLC stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $64.00, for a total value of $6,546,048.00. Following the completion of the sale, the chairman now directly owns 104,904 shares of the company’s stock, valued at approximately $6,713,856. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
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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