Pentair PLC (PNR) Sees Unusually-High Trading Volume
Pentair PLC (NYSE:PNR) shares saw strong trading volume on Friday . 1,301,990 shares changed hands during trading, an increase of 18% from the previous session’s volume of 1,100,676 shares.The stock last traded at $66.02 and had previously closed at $66.53.
A number of equities research analysts have recently issued reports on the stock. Susquehanna boosted their price target on shares of Pentair PLC from $63.00 to $67.00 and gave the company a “positive” rating in a report on Wednesday, April 27th. Canaccord Genuity reaffirmed a “hold” rating on shares of Pentair PLC in a research report on Tuesday, April 26th. Vertical Research initiated coverage on shares of Pentair PLC in a research report on Tuesday, July 19th. They set a “hold” rating on the stock. Zacks Investment Research downgraded shares of Pentair PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Finally, Seaport Global Securities raised shares of Pentair PLC from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $70.00 in a research report on Friday, June 10th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $57.67.
The company’s market capitalization is $11.91 billion. The company’s 50-day moving average is $63.17 and its 200-day moving average is $56.71.
Pentair PLC (NYSE:PNR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.02. The business earned $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $1.08 earnings per share. Pentair PLC’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts predict that Pentair PLC will post $4.09 earnings per share for the current year.
In other Pentair PLC news, Chairman Randall J. Hogan sold 3,200 shares of Pentair PLC stock in a transaction 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 directly owns 5,522 shares of the company’s stock, valued at $353,408. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Glynis Bryan sold 10,000 shares of Pentair PLC stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the transaction, the director now directly owns 26,487 shares of the company’s stock, valued at $1,721,655. The disclosure for this sale can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Utah Retirement Systems boosted its position in Pentair PLC by 0.3% in the fourth quarter. Utah Retirement Systems now owns 32,184 shares of the company’s stock worth $1,594,000 after buying an additional 100 shares during the period. KBC Group NV boosted its position in Pentair PLC by 17.7% in the fourth quarter. KBC Group NV now owns 74,796 shares of the company’s stock worth $3,704,000 after buying an additional 11,259 shares during the period. Dorsey & Whitney Trust CO LLC bought a new position in Pentair PLC during the fourth quarter worth approximately $4,475,000. BNP Paribas Arbitrage SA boosted its position in Pentair PLC by 1.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 201,848 shares of the company’s stock worth $9,998,000 after buying an additional 2,828 shares during the period. Finally, Principal Financial Group Inc. boosted 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 worth $13,183,000 after buying an additional 4,193 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.