Pentair PLC (PNR) Reaches New 52-Week High at $65.95
Pentair PLC (NYSE:PNR) shares hit a new 52-week high during trading on Thursday . The company traded as high as $65.95 and last traded at $65.84, with a volume of 593,127 shares changing hands. The stock had previously closed at $64.37.
A number of research analysts have recently commented on the company. Vertical Research assumed coverage on Pentair PLC in a research note on Tuesday, July 19th. They issued a “hold” rating for the company. Sanford C. Bernstein restated an “outperform” rating on shares of Pentair PLC in a report on Monday, June 27th. FBR & Co upgraded Pentair PLC from a “market perform” rating to an “outperform” rating in a report on Friday, June 10th. Seaport Global Securities upgraded Pentair PLC from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $70.00 in a report on Friday, June 10th. Finally, Robert W. Baird restated a “neutral” rating and issued a $60.00 price objective on shares of Pentair PLC in a report on Tuesday, June 7th. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $57.67.
The firm’s market cap is $11.92 billion. The firm’s 50-day moving average is $61.60 and its 200 day moving average is $55.75.
Pentair PLC (NYSE:PNR) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.02. The business earned $1.70 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts expect that Pentair PLC will post $4.09 earnings per share for the current year.
In other Pentair PLC news, Chairman Randall J. Hogan sold 105,483 shares of the business’s stock in a transaction 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 completion of the sale, the chairman now directly owns 2,622 shares of the company’s stock, valued at $158,421.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Randall J. Hogan sold 3,200 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $64.00, for a total transaction of $204,800.00. Following the completion of the sale, the chairman now directly owns 5,522 shares of the company’s stock, valued at $353,408. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of PNR. Lafayette Investments Inc. increased its stake in Pentair PLC by 15.5% in the fourth quarter. Lafayette Investments Inc. now owns 22,087 shares of the company’s stock valued at $1,094,000 after buying an additional 2,966 shares in the last quarter. Utah Retirement Systems increased its position in shares of Pentair PLC by 0.3% in the fourth quarter. Utah Retirement Systems now owns 32,184 shares of the company’s stock valued at $1,594,000 after buying an additional 100 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased 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 increased 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. Finally, KBC Group NV increased its position in shares of Pentair PLC by 17.7% in the fourth quarter. KBC Group NV now owns 74,796 shares of the company’s stock valued at $3,704,000 after buying an additional 11,259 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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