Pentair PLC. (PNR) Receives “Hold” Rating from Robert W. Baird
Robert W. Baird restated their hold rating on shares of Pentair PLC. (NYSE:PNR) in a research note released on Wednesday. The brokerage currently has a $70.00 target price on the industrial products company’s stock.
Several other research analysts also recently commented on PNR. Stifel Nicolaus reiterated a hold rating and issued a $67.00 target price on shares of Pentair PLC. in a report on Wednesday. BidaskClub downgraded shares of Pentair PLC. from a sell rating to a strong sell rating in a report on Saturday, August 5th. Cowen and Company reiterated an underperform rating and issued a $61.00 target price (up previously from $59.00) on shares of Pentair PLC. in a report on Monday, October 2nd. Morgan Stanley reiterated an equal weight rating and issued a $74.00 target price (up previously from $70.00) on shares of Pentair PLC. in a report on Monday, October 2nd. Finally, Wolfe Research assumed coverage on shares of Pentair PLC. in a report on Tuesday, July 11th. They issued a market perform rating on the stock. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Pentair PLC. has an average rating of Hold and a consensus target price of $67.92.
Shares of Pentair PLC. (NYSE PNR) opened at 70.02 on Wednesday. The stock has a market capitalization of $12.71 billion, a PE ratio of 20.61 and a beta of 1.41. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $70.51. The company’s 50-day moving average is $64.58 and its 200-day moving average is $64.53.
Pentair PLC. (NYSE:PNR) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. Equities research analysts expect that Pentair PLC. will post $3.51 earnings per share for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $1.38 annualized dividend and a yield of 1.97%. Pentair PLC.’s dividend payout ratio is 40.71%.
In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total value of $348,400.00. Following the sale, the director now directly 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. Company insiders own 9.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Swiss National Bank boosted its position in shares of Pentair PLC. by 2.8% during the 2nd quarter. Swiss National Bank now owns 629,157 shares of the industrial products company’s stock valued at $41,864,000 after acquiring an additional 17,400 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Pentair PLC. by 4.7% during the 1st 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 acquiring an additional 2,100 shares in the last quarter. BlackRock Inc. boosted its position in shares of Pentair PLC. by 1,577.2% during the 1st quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock valued at $726,001,000 after acquiring an additional 10,874,699 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Pentair PLC. by 29.9% during the 1st quarter. Victory Capital Management Inc. now owns 4,964 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Pentair PLC. during the 1st quarter valued at about $4,016,000. Institutional investors and hedge funds own 85.59% of the company’s stock.
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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