Pentair PLC. (NYSE:PNR) Downgraded by BidaskClub
BidaskClub downgraded shares of Pentair PLC. (NYSE:PNR) from a hold rating to a sell rating in a report released on Thursday.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Pentair PLC. from a buy rating to a hold rating in a research note on Thursday. Morgan Stanley reiterated an equal weight rating and set a $70.00 price objective (up previously from $69.00) on shares of Pentair PLC. in a research note on Wednesday, July 26th. Bank of America Corporation reiterated a sell rating and set a $65.00 price objective on shares of Pentair PLC. in a research note on Wednesday, July 26th. Royal Bank Of Canada reiterated a buy rating and set a $77.00 price objective on shares of Pentair PLC. in a research note on Wednesday, July 12th. Finally, Wolfe Research initiated coverage on Pentair PLC. in a research note on Tuesday, July 11th. They set a market perform rating for the company. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $66.86.
Shares of Pentair PLC. (NYSE PNR) traded down 0.35% during mid-day trading on Thursday, hitting $63.05. The company had a trading volume of 464,523 shares. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 18.56 and a beta of 1.40. The company has a 50-day moving average price of $65.76 and a 200-day moving average price of $62.91. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $69.03.
Pentair PLC. (NYSE:PNR) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.00. The company had revenue of $1.27 billion during 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 firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. On average, equities analysts anticipate that Pentair PLC. will post $3.51 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be given 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 is Wednesday, July 19th. Pentair PLC.’s dividend payout ratio (DPR) is presently 40.71%.
In other news, insider Trian Fund Management, L.P. acquired 863,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average cost of $65.25 per share, for a total transaction of $56,310,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward P. Garden acquired 290,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average price of $65.31 per share, for a total transaction of $18,939,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,726,000 shares of company stock worth $112,619,140 and sold 237,500 shares worth $15,706,725. Insiders own 9.90% of the company’s stock.
A number of large investors have recently bought and sold shares of PNR. Mcrae Capital Management Inc. boosted its stake in Pentair PLC. by 10.3% in the first quarter. Mcrae Capital Management Inc. now owns 28,532 shares of the industrial products company’s stock valued at $1,791,000 after buying an additional 2,665 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Pentair PLC. by 4.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,649 shares of the industrial products company’s stock valued at $2,932,000 after buying an additional 2,100 shares in the last quarter. Addison Capital Co bought a new position in shares of Pentair PLC. during the first quarter valued at $540,000. UBS Asset Management Americas Inc. boosted its position in shares of Pentair PLC. by 5.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,197,607 shares of the industrial products company’s stock valued at $67,149,000 after buying an additional 58,957 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Pentair PLC. by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 144,138 shares of the industrial products company’s stock valued at $9,049,000 after buying an additional 4,398 shares in the last quarter. Institutional investors own 86.70% of the company’s stock.
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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