Pentair PLC. (PNR) Position Maintained by Westpac Banking Corp
Westpac Banking Corp maintained its stake in Pentair PLC. (NYSE:PNR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,564 shares of the industrial products company’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in Pentair PLC. were worth $636,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Pentair PLC. by 1,577.2% during the 1st quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock worth $726,001,000 after buying an additional 10,874,699 shares during the period. Clearbridge Investments LLC grew its holdings in Pentair PLC. by 16.1% during the first quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock valued at $385,087,000 after purchasing an additional 850,370 shares during the period. Westwood Holdings Group Inc. acquired a new position in Pentair PLC. during the first quarter valued at approximately $45,224,000. FMR LLC grew its holdings in Pentair PLC. by 16.0% during the first quarter. FMR LLC now owns 4,293,038 shares of the industrial products company’s stock valued at $269,517,000 after purchasing an additional 591,429 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Pentair PLC. by 3.7% during the first quarter. Vanguard Group Inc. now owns 15,766,592 shares of the industrial products company’s stock valued at $989,827,000 after purchasing an additional 557,786 shares during the period. 85.59% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on PNR. BMO Capital Markets boosted their price objective on shares of Pentair PLC. from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, May 24th. Zacks Investment Research cut shares of Pentair PLC. from a “buy” rating to a “hold” rating in a report on Friday, May 26th. BidaskClub cut shares of Pentair PLC. from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price target on shares of Pentair PLC. in a report on Friday, July 14th. Finally, Bank of America Corporation reiterated a “sell” rating and issued a $65.00 price target on shares of Pentair PLC. in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Pentair PLC. presently has an average rating of “Hold” and a consensus target price of $67.23.
Shares of Pentair PLC. (PNR) opened at 64.54 on Thursday. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 19.00 and a beta of 1.40. The stock has a 50 day moving average of $62.10 and a 200-day moving average of $63.66. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $69.03.
Pentair PLC. (NYSE:PNR) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. On average, analysts forecast that Pentair PLC. will post $3.51 EPS for the current year.
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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