Morgan Stanley Reiterates Equal Weight Rating for Pentair PLC. (NYSE:PNR)
Morgan Stanley reaffirmed their equal weight rating on shares of Pentair PLC. (NYSE:PNR) in a report released on Wednesday. The firm currently has a $70.00 target price on the industrial products company’s stock, up from their previous target price of $69.00.
PNR has been the topic of a number of other reports. Goldman Sachs Group, Inc. (The) restated a sell rating and issued a $61.00 price target on shares of Pentair PLC. in a research report on Thursday, June 1st. Royal Bank Of Canada restated a buy rating and issued a $77.00 price target on shares of Pentair PLC. in a research report on Tuesday, June 6th. Zacks Investment Research lowered shares of Pentair PLC. from a buy rating to a hold rating in a research report on Tuesday, April 18th. Stifel Nicolaus boosted their price target on shares of Pentair PLC. from $63.00 to $64.00 and gave the company a hold rating in a research report on Friday, April 28th. Finally, Wolfe Research initiated coverage on shares of Pentair PLC. in a research report on Tuesday, July 11th. They issued a market perform rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $66.86.
Pentair PLC. (NYSE:PNR) traded up 1.23% during midday trading on Wednesday, reaching $63.27. 872,587 shares of the company traded hands. The firm’s 50 day moving average price is $65.76 and its 200 day moving average price is $62.91. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $69.03. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 18.63 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, meeting the Zacks’ 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 net margin of 12.86% and a return on equity of 13.17%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. On average, analysts expect that Pentair PLC. will post $3.51 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 21st will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, July 19th. Pentair PLC.’s dividend payout ratio (DPR) is 40.71%.
In other Pentair PLC. news, Director Edward P. Garden purchased 398,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $65.13 per share, with a total value of $25,921,740.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 acquired at an average cost of $65.25 per share, with a total value of $56,310,750.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,726,000 shares of company stock valued at $112,619,140 and have sold 237,500 shares valued at $15,706,725. Insiders own 9.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Huntington National Bank increased 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 during the period. FNY Partners Fund LP acquired a new stake in Pentair PLC. during the first quarter worth $125,000. First Personal Financial Services increased 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 during the period. Bronfman E.L. Rothschild L.P. increased 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 during the period. Finally, Advisors Asset Management Inc. increased its stake in Pentair PLC. by 62.2% in the first quarter. Advisors Asset Management Inc. now owns 2,796 shares of the industrial products company’s stock worth $176,000 after buying an additional 1,072 shares during the period. 86.28% of the stock is owned by institutional investors and hedge funds.
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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