Pentair PLC (PNR) Hits New 52-Week High at $64.45
Shares of Pentair PLC (NYSE:PNR) reached a new 52-week high during trading on Friday . The stock traded as high as $64.45 and last traded at $64.45, with a volume of 909,252 shares traded. The stock had previously closed at $62.25.
PNR has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Pentair PLC from $55.00 to $60.00 in a research note on Thursday, April 7th. Seaport Global Securities raised shares of Pentair PLC from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $70.00 in a research note on Friday, June 10th. Zacks Investment Research raised shares of Pentair PLC from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Friday, April 29th. TheStreet raised shares of Pentair PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Pentair PLC in a research note on Tuesday, April 26th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.67.
The firm has a 50 day moving average of $61.36 and a 200-day moving average of $55.22. The company’s market capitalization is $11.69 billion.
Pentair PLC (NYSE:PNR) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The company earned $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Pentair PLC will post $4.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 22nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, July 20th. This represents a $1.32 annualized dividend and a yield of 2.04%.
In other Pentair PLC news, Chairman Randall J. Hogan sold 105,483 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $60.42, for a total value of $6,373,282.86. Following the transaction, the chairman now owns 2,622 shares in the company, valued at approximately $158,421.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Randall J. Hogan sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $64.00, for a total transaction of $204,800.00. Following the completion of the transaction, the chairman now owns 5,522 shares in the company, valued at approximately $353,408. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Pentair PLC by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 266,148 shares of the company’s stock valued at $13,183,000 after buying an additional 4,193 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of Pentair PLC by 104.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 46,010 shares of the company’s stock valued at $2,279,000 after buying an additional 23,545 shares during the period. Andra AP fonden raised its position in shares of Pentair PLC by 9.9% in the fourth quarter. Andra AP fonden now owns 57,600 shares of the company’s stock valued at $2,853,000 after buying an additional 5,200 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Pentair PLC during the fourth quarter valued at approximately $4,475,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Pentair PLC by 1.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 201,848 shares of the company’s stock valued at $9,998,000 after buying an additional 2,828 shares during the period.
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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