US Bancorp DE lowered its position in Pentair PLC. (NYSE:PNR) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 833,421 shares of the company’s stock after selling 116,928 shares during the period. US Bancorp DE owned approximately 0.46% of Pentair PLC. worth $53,539,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Pentair PLC. by 1.5% in the second quarter. Principal Financial Group Inc. now owns 262,767 shares of the company’s stock worth $15,317,000 after buying an additional 3,911 shares during the last quarter. Argent Capital Management LLC acquired a new stake in Pentair PLC. during the second quarter worth about $38,109,000. Neuberger Berman Group LLC raised its stake in Pentair PLC. by 0.6% in the second quarter. Neuberger Berman Group LLC now owns 30,756 shares of the company’s stock worth $1,793,000 after buying an additional 188 shares during the last quarter. SG Americas Securities LLC raised its stake in Pentair PLC. by 530.8% in the second quarter. SG Americas Securities LLC now owns 775,326 shares of the company’s stock worth $45,194,000 after buying an additional 652,406 shares during the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new stake in Pentair PLC. during the second quarter worth about $31,525,000. 89.15% of the stock is owned by institutional investors and hedge funds.
Shares of Pentair PLC. (NYSE:PNR) opened at 58.63 on Wednesday. The firm’s market cap is $10.66 billion. The firm has a 50-day moving average price of $58.10 and a 200-day moving average price of $60.13. Pentair PLC. has a 12-month low of $41.57 and a 12-month high of $66.99.
Pentair PLC. (NYSE:PNR) last announced its earnings results on Tuesday, January 31st. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Pentair PLC. had a return on equity of 16.61% and a net margin of 7.70%. The business earned $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the business posted $0.88 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. On average, equities research analysts expect that Pentair PLC. will post $3.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, January 27th will be paid a dividend of $0.345 per share. The ex-dividend date is Wednesday, January 25th. This represents a $1.38 annualized dividend and a yield of 2.35%. This is a boost from Pentair PLC.’s previous quarterly dividend of $0.34. Pentair PLC.’s dividend payout ratio (DPR) is currently 52.27%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Pentair PLC. from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Vertical Research raised shares of Pentair PLC. from a “hold” rating to a “buy” rating in a research note on Monday, January 23rd. RBC Capital Markets increased their target price on shares of Pentair PLC. from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada increased their target price on shares of Pentair PLC. from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Pentair PLC. in a research note on Thursday, December 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $61.38.
In related news, Director Ronald Merriman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $57.87, for a total transaction of $578,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% 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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