Foundry Partners LLC Buys 8,670 Shares of Pentair PLC. (NYSE:PNR)
Foundry Partners LLC increased its position in Pentair PLC. (NYSE:PNR) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 273,655 shares of the industrial products company’s stock after buying an additional 8,670 shares during the period. Pentair PLC. makes up approximately 0.7% of Foundry Partners LLC’s investment portfolio, making the stock its 18th largest position. Foundry Partners LLC’s holdings in Pentair PLC. were worth $18,209,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of PNR. Huntington National Bank raised its stake in Pentair PLC. by 126.8% in the second quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock worth $100,000 after buying an additional 843 shares in the last quarter. Korea Investment CORP raised its stake in Pentair PLC. by 142.7% in the second quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after buying an additional 942 shares in the last quarter. FNY Partners Fund LP bought a new stake in Pentair PLC. during the first quarter worth $125,000. First Personal Financial Services raised its stake in Pentair PLC. by 17.6% in the first quarter. First Personal Financial Services now owns 2,006 shares of the industrial products company’s stock worth $126,000 after buying an additional 300 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in Pentair PLC. by 6.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,641 shares of the industrial products company’s stock worth $166,000 after buying an additional 157 shares in the last quarter. 86.77% of the stock is currently owned by institutional investors and hedge funds.
Pentair PLC. (PNR) opened at 61.52 on Friday. The firm has a 50-day moving average of $64.79 and a 200 day moving average of $63.16. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $69.03. The firm has a market cap of $11.16 billion, a P/E ratio of 18.11 and a beta of 1.38.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts predict that Pentair PLC. will post $3.51 EPS for the current year.
A number of research firms have recently weighed in on PNR. BidaskClub lowered Pentair PLC. from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price objective (up previously from $69.00) on shares of Pentair PLC. in a research report on Wednesday, July 26th. Zacks Investment Research lowered Pentair PLC. from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Bank of America Corporation reaffirmed a “sell” rating and set a $65.00 price objective on shares of Pentair PLC. in a research report on Wednesday, July 26th. Finally, Wolfe Research began coverage on Pentair PLC. in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.86.
In other news, insider Trian Fund Management, L.P. purchased 863,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $65.25 per share, with a total value of $56,310,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward P. Garden purchased 290,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $65.31 per share, for a total transaction of $18,939,900.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,726,000 shares of company stock worth $112,619,140 and have sold 237,500 shares worth $15,706,725. Insiders own 9.90% of the company’s stock.
Pentair PLC. Company 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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