Pentair PLC. (PNR) Holdings Reduced by Argent Capital Management LLC
Argent Capital Management LLC lowered its position in Pentair PLC. (NYSE:PNR) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622,740 shares of the industrial products company’s stock after selling 11,820 shares during the quarter. Pentair PLC. accounts for approximately 1.7% of Argent Capital Management LLC’s holdings, making the stock its 24th biggest holding. Argent Capital Management LLC owned about 0.34% of Pentair PLC. worth $41,437,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of PNR. BlackRock Inc. lifted its holdings in Pentair PLC. by 1,577.2% in 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 in the last quarter. Trian Fund Management L.P. lifted its holdings in Pentair PLC. by 6.0% in the 2nd quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after buying an additional 862,769 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Pentair PLC. by 16.1% in the 1st quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock worth $385,087,000 after buying an additional 850,370 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Pentair PLC. in the 1st quarter worth $45,224,000. Finally, FMR LLC lifted its holdings in Pentair PLC. by 16.0% in the 1st quarter. FMR LLC now owns 4,293,038 shares of the industrial products company’s stock worth $269,517,000 after buying an additional 591,429 shares in the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
Shares of Pentair PLC. (PNR) traded up 0.63% during midday trading on Friday, hitting $70.02. 803,712 shares of the company were exchanged. The stock’s 50-day moving average is $64.58 and its 200-day moving average is $64.53. Pentair PLC. has a one year low of $53.80 and a one year high of $70.51. The stock has a market cap of $12.71 billion, a PE ratio of 20.61 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting analysts’ consensus estimates 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 firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. Equities research analysts anticipate that Pentair PLC. will post $3.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Friday, October 20th will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, October 19th. Pentair PLC.’s payout ratio is 40.71%.
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A number of brokerages have commented on PNR. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price objective on shares of Pentair PLC. in a report on Thursday, September 21st. BidaskClub lowered shares of Pentair PLC. from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Bank of America Corporation reiterated a “sell” rating and issued a $65.00 price objective on shares of Pentair PLC. in a report on Wednesday, July 26th. BMO Capital Markets reiterated a “hold” rating and issued a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, September 6th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 price objective on shares of Pentair PLC. in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Pentair PLC. presently has a consensus rating of “Hold” and an average price target of $67.92.
In other news, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the completion of the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.90% of the stock is currently owned by company insiders.
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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