Tokio Marine Asset Management Co. Ltd. Has $374,000 Stake in Pentair PLC (PNR)
Tokio Marine Asset Management Co. Ltd. held its stake in Pentair PLC (NYSE:PNR) during the second quarter, Holdings Channel reports. The firm owned 6,419 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Pentair PLC were worth $374,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in PNR. Geode Capital Management LLC raised its position in Pentair PLC by 3.3% in the first quarter. Geode Capital Management LLC now owns 1,491,423 shares of the company’s stock valued at $80,760,000 after buying an additional 47,150 shares in the last quarter. Royal Bank of Canada raised its position in Pentair PLC by 41.8% in the first quarter. Royal Bank of Canada now owns 1,016,692 shares of the company’s stock valued at $55,164,000 after buying an additional 299,610 shares in the last quarter. Citizens Financial Group Inc RI raised its position in Pentair PLC by 1,057.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,268 shares of the company’s stock valued at $123,000 after buying an additional 2,072 shares in the last quarter. JPMorgan Chase & Co. raised its position in Pentair PLC by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 898,377 shares of the company’s stock valued at $48,746,000 after buying an additional 152,796 shares in the last quarter. Finally, Robecosam AG raised its position in Pentair PLC by 39.1% in the first quarter. Robecosam AG now owns 248,767 shares of the company’s stock valued at $13,451,000 after buying an additional 69,962 shares in the last quarter. Institutional investors and hedge funds own 90.53% of the company’s stock.
Pentair PLC (NYSE:PNR) traded up 0.79% during mid-day trading on Wednesday, reaching $59.62. The company had a trading volume of 796,863 shares. Pentair PLC has a 52 week low of $41.57 and a 52 week high of $66.99. The stock’s market capitalization is $10.80 billion. The stock has a 50 day moving average of $61.96 and a 200 day moving average of $60.17.
Pentair PLC (NYSE:PNR) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.09 by $0.02. Pentair PLC had a return on equity of 17.25% and a net margin of 6.91%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $1.08 earnings per share. Pentair PLC’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that Pentair PLC will post $3.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Shareholders of record on Friday, October 21st will be issued a $0.34 dividend. This is a positive change from Pentair PLC’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, October 19th. Pentair PLC’s dividend payout ratio (DPR) is presently 52.80%.
PNR has been the subject of a number of recent analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Pentair PLC in a research report on Monday, June 27th. Vertical Research initiated coverage on Pentair PLC in a research note on Tuesday, July 19th. They set a “hold” rating for the company. Buckingham Research restated a “neutral” rating and set a $62.00 price target on shares of Pentair PLC in a research note on Sunday, August 21st. BMO Capital Markets boosted their price objective on Pentair PLC from $57.00 to $65.79 and gave the company a “market perform” rating in a research note on Monday, August 22nd. Finally, Morgan Stanley reiterated a “hold” rating and set a $68.00 price objective on shares of Pentair PLC in a research note on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $59.81.
In other news, Chairman Randall J. Hogan sold 3,200 shares of Pentair PLC stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $64.00, for a total value of $204,800.00. Following the sale, the chairman now directly owns 5,522 shares of the company’s stock, valued at $353,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director T Michael Glenn sold 10,000 shares of Pentair PLC stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $62.61, for a total value of $626,100.00. Following the completion of the sale, the director now directly owns 22,535 shares in the company, valued at $1,410,916.35. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
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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