Pentair PLC (PNR) Sees Large Volume Increase
Shares of Pentair PLC (NYSE:PNR) saw an uptick in trading volume on Friday . 1,846,913 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 1,516,224 shares.The stock last traded at $62.60 and had previously closed at $61.98.
A number of brokerages have weighed in on PNR. Morgan Stanley lifted their price target on shares of Pentair PLC from $55.00 to $60.00 in a research note on Thursday, April 7th. Zacks Investment Research lowered shares of Pentair PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Canaccord Genuity reaffirmed a “hold” rating on shares of Pentair PLC in a research note on Tuesday, April 26th. Royal Bank Of Canada lifted their price target on shares of Pentair PLC from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 27th. Finally, Sanford C. Bernstein raised shares of Pentair PLC from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $71.00 in a research report on Wednesday, April 27th. Sixteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Pentair PLC has an average rating of “Hold” and an average price target of $58.56.
The firm’s market cap is $11.31 billion. The company’s 50-day moving average is $60.53 and its 200-day moving average is $54.08.
Pentair PLC (NYSE:PNR) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The business earned $1.60 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts anticipate that Pentair PLC will post $4.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Friday, July 22nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, July 20th.
In other Pentair PLC news, Chairman Randall J. Hogan sold 210,966 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $60.71, for a total transaction of $12,807,745.86. Following the transaction, the chairman now directly owns 2,622 shares in the company, valued at approximately $159,181.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karl R. Frykman sold 11,900 shares of the firm’s stock in a transaction on Wednesday, April 27th. The shares were sold at an average price of $60.00, for a total value of $714,000.00. Following the transaction, the insider now owns 33,351 shares in the company, valued at $2,001,060. The disclosure for this sale can be found here.
A number of institutional investors recently modified their holdings of the stock. New York State Common Retirement Fund boosted its position in shares of Pentair PLC by 0.9% in the fourth quarter. New York State Common Retirement Fund now owns 609,064 shares of the company’s stock valued at $30,167,000 after buying an additional 5,600 shares during the period. Vanguard Group Inc. boosted its position in shares of Pentair PLC by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 15,065,442 shares of the company’s stock valued at $746,192,000 after buying an additional 411,932 shares during the period. LS Investment Advisors LLC boosted its position in shares of Pentair PLC by 2.4% in the fourth quarter. LS Investment Advisors LLC now owns 39,402 shares of the company’s stock valued at $1,952,000 after buying an additional 923 shares during the period. Olstein Capital Management L.P. boosted its position in shares of Pentair PLC by 4.6% in the fourth quarter. Olstein Capital Management L.P. now owns 136,000 shares of the company’s stock valued at $6,736,000 after buying an additional 6,000 shares during the period. Finally, BHF Kleinwort Benson Group S.A. bought a new position in shares of Pentair PLC during the fourth quarter valued at $46,489,000.
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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