Oppenheimer & Co. Inc. Boosts Stake in Pentair PLC. (PNR)
Oppenheimer & Co. Inc. lifted its position in Pentair PLC. (NYSE:PNR) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,953 shares of the industrial products company’s stock after purchasing an additional 1,356 shares during the quarter. Oppenheimer & Co. Inc. owned 0.06% of Pentair PLC. worth $7,677,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PNR. Vanguard Group Inc. lifted its stake in shares of Pentair PLC. by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock valued at $1,075,249,000 after acquiring an additional 392,842 shares during the last quarter. Trian Fund Management L.P. lifted its stake in shares of Pentair PLC. by 6.0% in the 2nd quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock valued at $1,011,470,000 after acquiring an additional 862,769 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Pentair PLC. by 5.1% in the 2nd quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock valued at $808,662,000 after acquiring an additional 588,818 shares during the last quarter. Sound Shore Management Inc. CT lifted its stake in shares of Pentair PLC. by 8.6% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,303,860 shares of the industrial products company’s stock valued at $153,299,000 after acquiring an additional 183,299 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Pentair PLC. by 6.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,465,471 shares of the industrial products company’s stock valued at $97,512,000 after acquiring an additional 83,595 shares during the last quarter. Hedge funds and other institutional investors own 85.21% of the company’s stock.
PNR has been the subject of a number of recent research reports. Zacks Investment Research lowered Pentair PLC. from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub lowered Pentair PLC. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. BMO Capital Markets reissued a “hold” rating and issued a $70.00 target price on shares of Pentair PLC. in a research note on Wednesday, September 6th. Jefferies Group LLC reissued a “hold” rating and issued a $59.00 target price on shares of Pentair PLC. in a research note on Thursday, September 21st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $74.00 target price (up previously from $70.00) on shares of Pentair PLC. in a research note on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Pentair PLC. has an average rating of “Hold” and an average target price of $70.92.
Pentair PLC. (NYSE:PNR) traded up $0.16 on Friday, reaching $69.51. The company’s stock had a trading volume of 630,000 shares, compared to its average volume of 979,541. The company has a market cap of $12,622.84, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.85 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.05. Pentair PLC. has a fifty-two week low of $55.76 and a fifty-two week high of $71.65.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Pentair PLC. had a return on equity of 13.39% and a net margin of 12.50%. Pentair PLC.’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. analysts anticipate that Pentair PLC. will post 3.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Friday, October 20th were given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, October 19th. Pentair PLC.’s payout ratio is 41.82%.
In other Pentair PLC. news, insider Karl R. Frykman sold 7,385 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $70.00, for a total transaction of $516,950.00. Following the transaction, the insider now owns 40,775 shares in the company, valued at approximately $2,854,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William T. Monahan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $70.27, for a total value of $702,700.00. Following the transaction, the director now owns 50,656 shares in the company, valued at approximately $3,559,597.12. The disclosure for this sale can be found here. Insiders have sold a total of 217,632 shares of company stock valued at $14,783,286 in the last ninety days. 9.90% of the stock is currently owned by corporate insiders.
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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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