Pentair PLC (PNR) Sees Strong Trading Volume
Pentair PLC (NYSE:PNR) saw strong trading volume on Friday . 1,301,990 shares were traded 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.
Several equities analysts have recently weighed in on the stock. Vertical Research assumed coverage on shares of Pentair PLC in a research note on Tuesday, July 19th. They issued a “hold” rating for the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Pentair PLC in a research note on Monday, June 27th. FBR & Co upgraded shares of Pentair PLC from a “market perform” rating to an “outperform” rating in a research note on Friday, June 10th. Seaport Global Securities upgraded shares of Pentair PLC from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $70.00 in a research note on Friday, June 10th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $60.00 target price on shares of Pentair PLC in a research note 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’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.67.
The firm’s market capitalization is $11.91 billion. The firm has a 50 day moving average price of $63.17 and a 200 day moving average price of $56.71.
Pentair PLC (NYSE:PNR) last released its earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The firm earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 earnings per share. Equities research analysts predict that Pentair PLC will post $4.09 earnings per share for the current year.
In related news, Director Glynis Bryan sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. Following the completion of the sale, the director now directly owns 26,487 shares of the company’s stock, valued at approximately $1,721,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Randall J. Hogan sold 105,483 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $60.42, for a total transaction 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 disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in the stock. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Pentair PLC during the fourth quarter worth about $4,475,000. KBC Group NV raised its stake 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 worth $3,704,000 after buying an additional 11,259 shares during the period. Principal Financial Group Inc. raised its stake in shares of 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. 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 during the period. Finally, Utah Retirement Systems raised its stake 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 worth $1,594,000 after buying an additional 100 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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