Benedict Financial Advisors Inc. Reduces Position in Pentair PLC (PNR)
Benedict Financial Advisors Inc. lowered its position in shares of Pentair PLC (NYSE:PNR) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 9,692 shares of the company’s stock after selling 110 shares during the period. Benedict Financial Advisors Inc.’s holdings in Pentair PLC were worth $570,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in PNR. Commonwealth Equity Services Inc raised its position in shares of Pentair PLC by 168.9% in the first quarter. Commonwealth Equity Services Inc now owns 24,129 shares of the company’s stock worth $1,309,000 after buying an additional 15,157 shares in the last quarter. Aperio Group LLC raised its position in shares of Pentair PLC by 47.8% in the first quarter. Aperio Group LLC now owns 90,077 shares of the company’s stock worth $4,888,000 after buying an additional 29,144 shares in the last quarter. Virginia Retirement System acquired a new position in shares of Pentair PLC during the first quarter worth $1,960,000. IFP Advisors Inc raised its position in shares of Pentair PLC by 6.8% in the first quarter. IFP Advisors Inc now owns 2,380 shares of the company’s stock worth $129,000 after buying an additional 151 shares in the last quarter. Finally, Morris Capital Advisors LLC acquired a new position in shares of Pentair PLC during the first quarter worth $360,000. Hedge funds and other institutional investors own 90.53% of the company’s stock.
Pentair PLC (NYSE:PNR) traded up 2.05% during trading on Friday, reaching $64.24. The company had a trading volume of 1,424,377 shares. The stock’s market cap is $11.63 billion. The firm has a 50-day moving average price of $62.98 and a 200 day moving average price of $59.60. Pentair PLC has a 12-month low of $41.57 and a 12-month high of $66.99.
Pentair PLC (NYSE:PNR) last issued its earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. The company earned $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. Pentair PLC had a net margin of 6.91% and a return on equity of 17.25%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Equities research analysts predict that Pentair PLC will post $3.12 EPS for the current fiscal year.
A number of brokerages have weighed in on PNR. BMO Capital Markets increased their price target on Pentair PLC from $57.00 to $65.79 and gave the stock a “market perform” rating in a research note on Monday, August 22nd. Buckingham Research reissued a “neutral” rating and set a $62.00 price target on shares of Pentair PLC in a research note on Sunday, August 21st. Cowen and Company lowered Pentair PLC from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $64.05 to $55.00 in a research note on Thursday, September 1st. Morgan Stanley reissued a “hold” rating and set a $68.00 price target on shares of Pentair PLC in a research note on Friday, August 26th. Finally, Zacks Investment Research lowered Pentair PLC from a “hold” rating to a “strong sell” rating in a research note on Monday, August 29th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $59.81.
In other Pentair PLC news, Director T Michael Glenn sold 10,000 shares of Pentair PLC stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $62.61, for a total transaction of $626,100.00. Following the completion of the sale, the director now owns 22,535 shares of the company’s stock, valued at approximately $1,410,916.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chairman now directly owns 5,522 shares of the company’s stock, valued at approximately $353,408. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Pentair PLC Company Profile
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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