Trian Fund Management, L.P. Buys 384,571 Shares of Pentair PLC. (PNR) Stock
Pentair PLC. (NYSE:PNR) Director Trian Fund Management, L.P. acquired 384,571 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $68.41 per share, for a total transaction of $26,308,502.11. Following the acquisition, the director now directly owns 1,122 shares of the company’s stock, valued at approximately $76,756.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Trian Fund Management, L.P. also recently made the following trade(s):
- On Thursday, November 16th, Trian Fund Management, L.P. sold 183,661 shares of Pentair PLC. stock. The shares were sold at an average price of $67.60, for a total transaction of $12,415,483.60.
Shares of Pentair PLC. (NYSE:PNR) opened at $69.35 on Wednesday. Pentair PLC. has a 52-week low of $55.76 and a 52-week high of $71.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.05. The stock has a market cap of $12,559.28, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.84 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.02. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. equities analysts predict that Pentair PLC. will post 3.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Friday, October 20th were given a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, October 19th. Pentair PLC.’s payout ratio is 41.82%.
A number of hedge funds have recently modified their holdings of PNR. Huntington National Bank grew its position in Pentair PLC. by 126.8% in the 2nd quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 843 shares in the last quarter. Tiedemann Wealth Management LLC grew its position in Pentair PLC. by 25.8% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 10,182 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 2,091 shares in the last quarter. Korea Investment CORP grew its position in Pentair PLC. by 142.7% in the 2nd quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 942 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Pentair PLC. in the 3rd quarter worth about $116,000. Finally, YorkBridge Wealth Partners LLC grew its position in Pentair PLC. by 6.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 111 shares in the last quarter. 85.21% of the stock is owned by institutional investors and hedge funds.
PNR has been the topic of several research reports. Zacks Investment Research lowered shares of Pentair PLC. from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Robert W. Baird reiterated a “hold” rating and set a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, October 4th. Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price objective on shares of Pentair PLC. in a report on Thursday, September 21st. BidaskClub lowered shares of Pentair PLC. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, 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. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Pentair PLC. has an average rating of “Hold” and an average target price of $70.92.
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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