Pentair PLC. (PNR) Director Ronald Merriman Sells 5,200 Shares
Pentair PLC. (NYSE:PNR) Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the completion of the transaction, the director now owns 21,538 shares in the company, valued at approximately $1,443,046. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Pentair PLC. (PNR) traded up 2.02% during mid-day trading on Monday, hitting $69.33. 1,224,186 shares of the company were exchanged. The stock’s 50-day moving average price is $62.44 and its 200 day moving average price is $63.89. The stock has a market cap of $12.58 billion, a PE ratio of 20.41 and a beta of 1.41. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $69.33.
Pentair PLC. (NYSE:PNR) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share for the quarter, meeting the consensus estimate of $1.00. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company earned $1.11 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Pentair PLC. will post $3.51 EPS for the current fiscal year.
The firm 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 $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, October 19th. Pentair PLC.’s dividend payout ratio is currently 40.71%.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Pentair PLC. by 2.5% in the second 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 period. Trian Fund Management L.P. grew its stake in shares of Pentair PLC. by 6.0% in the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after acquiring an additional 862,769 shares during the last quarter. BlackRock Inc. grew its stake in shares of Pentair PLC. by 5.1% in the second quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock worth $808,662,000 after acquiring an additional 588,818 shares during the last quarter. State Street Corp grew its stake in shares of Pentair PLC. by 1.6% in the first quarter. State Street Corp now owns 11,282,638 shares of the industrial products company’s stock worth $708,327,000 after acquiring an additional 180,937 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Pentair PLC. by 16.1% in the first quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock worth $385,087,000 after acquiring an additional 850,370 shares during the last quarter. Institutional investors own 85.59% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research cut 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. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 target price on shares of Pentair PLC. in a research note on Thursday, September 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $77.00 target price on shares of Pentair PLC. in a report on Wednesday, July 12th. Finally, Wolfe Research started coverage on Pentair PLC. in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Pentair PLC. presently has a consensus rating of “Hold” and a consensus target price of $67.83.
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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