10,000 Shares in Pentair PLC. (PNR) Purchased by TVR Capital Management LP
TVR Capital Management LP purchased a new position in shares of Pentair PLC. (NYSE:PNR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the industrial products company’s stock, valued at approximately $665,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in Pentair PLC. by 1,736.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,172 shares of the industrial products company’s stock worth $544,000 after buying an additional 7,727 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Pentair PLC. by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 199,170 shares of the industrial products company’s stock worth $13,253,000 after buying an additional 9,154 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in Pentair PLC. by 78.1% during the second quarter. Moors & Cabot Inc. now owns 10,152 shares of the industrial products company’s stock worth $675,000 after buying an additional 4,451 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Pentair PLC. by 12.6% during the second quarter. Janus Henderson Group PLC now owns 160,331 shares of the industrial products company’s stock worth $10,669,000 after buying an additional 17,992 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Pentair PLC. during the second quarter worth $1,487,000. 85.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on PNR. Jefferies Group LLC reissued a “hold” rating and set a $59.00 price target on shares of Pentair PLC. in a report on Thursday, September 21st. BidaskClub downgraded shares of Pentair PLC. from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Bank of America Corporation reissued a “sell” rating and set a $65.00 price target on shares of Pentair PLC. in a report on Wednesday, July 26th. BMO Capital Markets restated a “hold” rating and set a $70.00 price objective on shares of Pentair PLC. in a research report on Wednesday, September 6th. Finally, Stifel Nicolaus restated a “hold” rating and set a $67.00 price objective on shares of Pentair PLC. in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $67.92.
In related news, Director Ronald Merriman sold 5,200 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $67.00, for a total value of $348,400.00. Following the sale, the director now directly owns 21,538 shares in the company, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.90% of the stock is owned by insiders.
Shares of Pentair PLC. (PNR) traded up 0.63% during midday trading on Friday, hitting $70.02. 803,712 shares of the stock were exchanged. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $70.51. The firm has a 50-day moving average price of $64.58 and a 200 day moving average price of $64.53. The firm has a market cap of $12.71 billion, a PE ratio of 20.61 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm earned $1.11 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts predict that Pentair PLC. will post $3.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be given a $0.345 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $1.38 annualized dividend and a dividend yield of 1.97%. Pentair PLC.’s dividend payout ratio is presently 40.71%.
Pentair PLC. 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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