Pentair (NYSE:PNR) Sees Unusually-High Trading Volume – Here’s Why

Pentair plc (NYSE:PNR) shares saw an uptick in trading volume on Thursday . Approximately 3,018,395 shares changed hands during trading, an increase of 55% from the previous session’s volume of 1,945,187 shares.The stock last traded at $77.1710 and had previously closed at $74.81.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada decreased their price target on Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Stifel Nicolaus cut their price objective on Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Wall Street Zen lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Robert W. Baird set a $110.00 target price on shares of Pentair in a report on Wednesday, April 29th. Finally, Seaport Research Partners dropped their target price on shares of Pentair from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Hold” and a consensus price target of $107.86.

Pentair Stock Up 0.5%

The firm has a market cap of $12.34 billion, a PE ratio of 18.72, a P/E/G ratio of 1.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. The business has a fifty day moving average price of $77.17 and a two-hundred day moving average price of $90.97.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business earned $1.11 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts anticipate that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, July 24th. Pentair’s dividend payout ratio (DPR) is currently 26.47%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in shares of Pentair by 106.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock valued at $358,521,000 after buying an additional 1,670,944 shares during the period. Hsbc Holdings PLC increased its stake in shares of Pentair by 1,459.8% in the first quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock worth $110,617,000 after acquiring an additional 1,189,122 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Pentair by 1,690.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock worth $75,987,000 after acquiring an additional 688,921 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Pentair by 22.8% during the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after acquiring an additional 647,162 shares in the last quarter. Finally, 140 Summer Partners LP acquired a new stake in Pentair during the third quarter valued at $60,752,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.