Pentair PLC (PNR) Shares Gap Up to $58.74
Pentair PLC (NYSE:PNR) gapped up prior to trading on Thursday . The stock had previously closed at $58.24, but opened at $58.74. Pentair PLC shares last traded at $59.38, with a volume of 490,749 shares traded.
A number of research firms recently weighed in on PNR. Canaccord Genuity restated a “hold” rating on shares of Pentair PLC in a report on Wednesday, April 20th. TheStreet upgraded shares of Pentair PLC from a “hold” rating to a “buy” rating in a report on Tuesday, April 26th. Royal Bank Of Canada upped their target price on shares of Pentair PLC from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 27th. Morgan Stanley upped their target price on shares of Pentair PLC from $55.00 to $60.00 in a report on Thursday, April 7th. Finally, BMO Capital Markets began coverage on shares of Pentair PLC in a report on Tuesday, April 5th. They issued a “market perform” rating and a $50.00 target price on the stock. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $58.56.
The stock’s market cap is $10.72 billion. The stock has a 50 day moving average of $59.67 and a 200-day moving average of $53.10.
Pentair PLC (NYSE:PNR) last issued its earnings results on Tuesday, April 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm earned $1.60 billion during the quarter, compared to analysts’ expectations of $1.56 billion. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. On average, equities analysts anticipate that Pentair PLC will post $4.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 22nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a $1.32 annualized dividend and a yield of 2.23%.
In other Pentair PLC news, Chairman Randall J. Hogan sold 105,483 shares of Pentair PLC stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 2,622 shares of the company’s stock, valued at $158,421.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl R. Frykman sold 11,900 shares of Pentair PLC stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $60.00, for a total transaction of $714,000.00. Following the completion of the transaction, the insider now directly owns 33,351 shares of the company’s stock, valued at $2,001,060. The disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in PNR. Oregon Public Employees Retirement Fund raised its stake in shares of Pentair PLC by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,527 shares of the company’s stock worth $1,363,000 after buying an additional 100 shares in the last quarter. Intrust Bank NA raised its stake in shares of Pentair PLC by 1.6% in the fourth quarter. Intrust Bank NA now owns 26,511 shares of the company’s stock worth $1,313,000 after buying an additional 429 shares in the last quarter. LS Investment Advisors LLC raised its stake 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 worth $1,952,000 after buying an additional 923 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Pentair PLC by 0.9% in the fourth quarter. Rhumbline Advisers now owns 247,509 shares of the company’s stock worth $12,259,000 after buying an additional 2,192 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake 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 worth $9,998,000 after buying an additional 2,828 shares in the last quarter.
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.