Pentair PLC. (PNR) Director Trian Fund Management, L.P. Sells 183,661 Shares
Pentair PLC. (NYSE:PNR) Director Trian Fund Management, L.P. sold 183,661 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $67.60, for a total value of $12,415,483.60. Following the sale, the director now owns 1,122 shares of the company’s stock, valued at approximately $75,847.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Trian Fund Management, L.P. also recently made the following trade(s):
- On Monday, November 20th, Trian Fund Management, L.P. acquired 384,571 shares of Pentair PLC. stock. The shares were acquired at an average price of $68.41 per share, with a total value of $26,308,502.11.
Shares of Pentair PLC. (PNR) opened at $69.16 on Tuesday. The firm has a market capitalization of $12,430.00, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.59. Pentair PLC. has a 12-month low of $55.76 and a 12-month high of $71.65.
Pentair PLC. (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Pentair PLC. had a return on equity of 13.39% and a net margin of 12.50%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. equities analysts anticipate that Pentair PLC. will post 3.53 earnings per share for the current fiscal year.
The business 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 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, October 19th. Pentair PLC.’s dividend payout ratio is currently 65.71%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank grew its position in Pentair PLC. by 2.8% during the 2nd quarter. Swiss National Bank now owns 629,157 shares of the industrial products company’s stock worth $41,864,000 after purchasing an additional 17,400 shares during the period. Trian Fund Management L.P. grew its position in Pentair PLC. by 6.0% during the 2nd 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 purchasing an additional 862,769 shares during the period. Neuberger Berman Group LLC grew its position in Pentair PLC. by 8.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 611,177 shares of the industrial products company’s stock worth $40,668,000 after purchasing an additional 46,856 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Pentair PLC. during the 2nd quarter worth about $1,487,000. Finally, APG Asset Management N.V. grew its position in Pentair PLC. by 6.9% during the 3rd quarter. APG Asset Management N.V. now owns 192,828 shares of the industrial products company’s stock worth $13,105,000 after purchasing an additional 12,500 shares during the period. 85.21% of the stock is currently owned by institutional investors.
PNR has been the subject of several analyst reports. Zacks Investment Research lowered Pentair PLC. from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. BMO Capital Markets reiterated a “hold” rating and set a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, September 6th. KeyCorp reiterated a “buy” rating and set a $77.00 price objective on shares of Pentair PLC. in a report on Thursday, October 12th. 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 report on Wednesday, July 26th. Finally, Bank of America Corporation reiterated a “sell” rating and set a $65.00 price objective on shares of Pentair PLC. in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Pentair PLC. currently has an average rating of “Hold” and an average target price of $70.92.
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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