Cubist Systematic Strategies LLC Reduces Position in Pentair PLC. (PNR)
Cubist Systematic Strategies LLC lowered its position in Pentair PLC. (NYSE:PNR) by 19.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,889 shares of the industrial products company’s stock after selling 2,408 shares during the period. Cubist Systematic Strategies LLC’s holdings in Pentair PLC. were worth $658,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in Pentair PLC. by 12.6% in 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 during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Pentair PLC. in the second quarter worth approximately $1,487,000. Clinton Group Inc. acquired a new position in Pentair PLC. in the second quarter worth approximately $1,125,000. HighTower Advisors LLC increased its holdings in Pentair PLC. by 3.5% in the second quarter. HighTower Advisors LLC now owns 16,628 shares of the industrial products company’s stock worth $1,113,000 after buying an additional 562 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC increased its holdings in Pentair PLC. by 6.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock worth $123,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.
In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $67.00, for a total transaction of $348,400.00. Following the transaction, the director now owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.90% of the stock is owned by insiders.
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A number of research firms recently commented on PNR. Zacks Investment Research downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. KeyCorp restated a “buy” rating and issued a $77.00 price objective on shares of Pentair PLC. in a report on Thursday, October 12th. Stifel Nicolaus restated a “hold” rating and issued a $67.00 price objective on shares of Pentair PLC. in a report on Wednesday, October 4th. Robert W. Baird restated a “hold” rating and issued a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, October 4th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $74.00 price objective (up previously from $70.00) on shares of Pentair PLC. in a report on Monday, October 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Pentair PLC. has an average rating of “Hold” and a consensus target price of $68.15.
Shares of Pentair PLC. (NYSE:PNR) opened at 70.50 on Thursday. The firm’s 50-day moving average price is $66.67 and its 200-day moving average price is $65.03. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $70.67. The company has a market cap of $12.79 billion, a PE ratio of 20.75 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 EPS. Equities analysts predict that Pentair PLC. will post $3.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, October 19th. Pentair PLC.’s dividend payout ratio (DPR) is 40.71%.
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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