Wolfe Research Begins Coverage on Pentair PLC. (NYSE:PNR)
Wolfe Research initiated coverage on shares of Pentair PLC. (NYSE:PNR) in a research note published on Tuesday morning. The brokerage issued a market perform rating on the industrial products company’s stock.
Several other equities research analysts have also recently commented on PNR. Zacks Investment Research cut Pentair PLC. from a buy rating to a hold rating in a research note on Tuesday, April 18th. TheStreet upgraded Pentair PLC. from a c+ rating to a b rating in a research note on Monday, April 17th. BMO Capital Markets restated a hold rating and set a $61.00 price target on shares of Pentair PLC. in a research note on Wednesday, April 26th. Royal Bank Of Canada restated an outperform rating and set a $77.00 price target (up previously from $73.00) on shares of Pentair PLC. in a research note on Wednesday, April 26th. Finally, Gabelli cut Pentair PLC. from a buy rating to a hold rating in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $66.85.
Shares of Pentair PLC. (NYSE:PNR) opened at 66.55 on Tuesday. The stock’s 50 day moving average is $65.91 and its 200-day moving average is $61.76. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $69.03. The firm has a market cap of $12.13 billion, a PE ratio of 24.23 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.04. Pentair PLC. had a return on equity of 14.19% and a net margin of 9.46%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that Pentair PLC. will post $3.53 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, July 19th. Pentair PLC.’s dividend payout ratio (DPR) is 50.37%.
In related news, Chairman Randall J. Hogan sold 220,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $66.03, for a total transaction of $14,526,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Randall J. Hogan sold 110,325 shares of the stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $65.00, for a total value of $7,171,125.00. Following the sale, the chairman now directly owns 198,111 shares in the company, valued at approximately $12,877,215. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,726,000 shares of company stock worth $112,619,140 and sold 356,353 shares worth $23,432,170. 9.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Pentair PLC. by 1,577.2% in the first quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock worth $726,001,000 after buying an additional 10,874,699 shares during the last quarter. Sound Shore Management Inc. CT bought a new stake in Pentair PLC. during the first quarter worth approximately $133,129,000. Clearbridge Investments LLC raised its stake in 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 buying an additional 850,370 shares during the last quarter. Wells Fargo & Company MN raised its stake in Pentair PLC. by 36.9% in the first quarter. Wells Fargo & Company MN now owns 2,689,019 shares of the industrial products company’s stock worth $168,817,000 after buying an additional 724,791 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in Pentair PLC. during the first quarter worth approximately $45,224,000. 86.37% of the stock is currently owned by institutional investors and hedge funds.
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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