Pentair PLC. (PNR) Stake Lessened by New England Research & Management Inc.
New England Research & Management Inc. lowered its position in shares of Pentair PLC. (NYSE:PNR) by 58.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,125 shares of the industrial products company’s stock after selling 12,625 shares during the quarter. New England Research & Management Inc.’s holdings in Pentair were worth $644,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Pentair by 2.5% during 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. raised its holdings in shares of Pentair by 6.0% during the second 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 period. BlackRock Inc. raised its holdings in shares of Pentair by 5.1% during the second 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 period. Wells Fargo & Company MN raised its holdings in shares of Pentair by 0.5% during the third quarter. Wells Fargo & Company MN now owns 2,409,123 shares of the industrial products company’s stock valued at $163,724,000 after acquiring an additional 11,035 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Pentair by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,251 shares of the industrial products company’s stock valued at $147,004,000 after acquiring an additional 45,001 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.
In other news, Director William T. Monahan sold 10,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $70.27, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karl R. Frykman sold 11,386 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $70.24, for a total transaction of $799,752.64. Following the transaction, the insider now owns 36,476 shares in the company, valued at approximately $2,562,074.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,432 shares of company stock worth $14,434,886. 9.90% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on PNR shares. Jefferies Group restated a “hold” rating and set a $59.00 price target on shares of Pentair in a report on Thursday, September 21st. Morgan Stanley restated an “equal weight” rating and set a $74.00 price target (up previously from $70.00) on shares of Pentair in a report on Monday, October 2nd. Cowen restated an “underperform” rating and set a $61.00 price target (up previously from $59.00) on shares of Pentair in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 price objective on shares of Pentair in a research note on Wednesday, October 4th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $70.00 price objective on shares of Pentair in a research note on Wednesday, October 4th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.67.
Pentair PLC. (NYSE PNR) traded up $0.41 during trading on Tuesday, reaching $73.00. 159,302 shares of the company’s stock traded hands, compared to its average volume of 894,000. The firm has a market cap of $13,180.00, a price-to-earnings ratio of 34.76, a PEG ratio of 1.72 and a beta of 1.41. The company has a current ratio of 1.59, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. Pentair PLC. has a 1 year low of $56.53 and a 1 year high of $72.85.
Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Pentair had a net margin of 12.50% and a return on equity of 13.39%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. research analysts expect that Pentair PLC. will post 3.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 26th will be paid a dividend of $0.35 per share. This is a positive change from Pentair’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, January 25th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Pentair’s dividend payout ratio is 65.71%.
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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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