Vanguard Group Inc. lowered its position in Pentair PLC (NYSE:PNR) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,908,280 shares of the company’s stock after selling 578,752 shares during the period. Vanguard Group Inc. owned about 8.23% of Pentair PLC worth $869,003,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its stake in Pentair PLC by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,652,844 shares of the company’s stock worth $252,463,000 after buying an additional 39,437 shares during the period. Franklin Resources Inc. raised its stake in Pentair PLC by 1.0% in the first quarter. Franklin Resources Inc. now owns 8,504,908 shares of the company’s stock worth $461,476,000 after buying an additional 82,320 shares during the period. Prudential Financial Inc. raised its stake in Pentair PLC by 3.9% in the first quarter. Prudential Financial Inc. now owns 255,511 shares of the company’s stock worth $13,864,000 after buying an additional 9,700 shares during the period. Teachers Advisors Inc. raised its stake in Pentair PLC by 17.6% in the first quarter. Teachers Advisors Inc. now owns 261,609 shares of the company’s stock worth $14,195,000 after buying an additional 39,131 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in Pentair PLC by 9.1% in the first quarter. TIAA CREF Investment Management LLC now owns 334,492 shares of the company’s stock worth $18,150,000 after buying an additional 28,009 shares during the period. Institutional investors and hedge funds own 90.53% of the company’s stock.
Pentair PLC (NYSE:PNR) traded down 0.54% during trading on Monday, hitting $60.93. The stock had a trading volume of 70,429 shares. The stock’s 50-day moving average price is $63.24 and its 200-day moving average price is $59.26. Pentair PLC has a 1-year low of $41.57 and a 1-year high of $66.99. The company’s market capitalization is $11.03 billion.
Pentair PLC (NYSE:PNR) last posted its earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Pentair PLC had a return on equity of 17.25% and a net margin of 6.91%. Pentair PLC’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. Analysts expect that Pentair PLC will post $3.12 earnings per share for the current year.
PNR has been the topic of a number of analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $60.00 price target on shares of Pentair PLC in a research report on Tuesday, June 7th. Seaport Global Securities upgraded Pentair PLC from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $70.00 in a research report on Friday, June 10th. FBR & Co upgraded Pentair PLC from a “market perform” rating to an “outperform” rating in a research report on Friday, June 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Pentair PLC in a research report on Monday, June 27th. Finally, Vertical Research initiated coverage on Pentair PLC in a research report on Tuesday, July 19th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. Pentair PLC currently has a consensus rating of “Hold” and an average price target of $59.81.
In related news, Director T Michael Glenn sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $62.61, for a total value of $626,100.00. Following the sale, the director now directly owns 22,535 shares of the company’s stock, valued at $1,410,916.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark C. Borin sold 13,326 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $65.19, for a total value of $868,721.94. Following the completion of the sale, the insider now directly owns 32,209 shares in the company, valued at $2,099,704.71. 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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