Cubist Systematic Strategies LLC trimmed its position in Pentair PLC. (NYSE:PNR) by 19.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,889 shares of the industrial products company’s stock after selling 2,408 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Pentair PLC. were worth $658,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Huntington National Bank raised its holdings in shares of Pentair PLC. by 126.8% in the 2nd quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 843 shares during the period. Korea Investment CORP raised its holdings in shares of Pentair PLC. by 142.7% in the 2nd quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 942 shares during the period. YorkBridge Wealth Partners LLC raised its holdings in shares of Pentair PLC. by 6.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 111 shares during the period. FNY Partners Fund LP bought a new stake in shares of Pentair PLC. in the 1st quarter valued at about $125,000. Finally, Penserra Capital Management LLC raised its holdings in shares of Pentair PLC. by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,444 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 282 shares during the period. 85.58% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on PNR. Zacks Investment Research upgraded shares of Pentair PLC. from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday. BMO Capital Markets upped their price target on shares of Pentair PLC. from $78.00 to $79.00 and gave the company a “market perform” rating in a research note on Wednesday. Seaport Global Securities reiterated a “buy” rating on shares of Pentair PLC. in a research note on Wednesday. Stifel Nicolaus restated a “hold” rating and set a $76.00 target price (up previously from $75.00) on shares of Pentair PLC. in a research report on Wednesday. Finally, Robert W. Baird increased their target price on shares of Pentair PLC. from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Pentair PLC. currently has a consensus rating of “Hold” and an average target price of $70.00.
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Pentair PLC. (PNR) traded down 1.45% during trading on Friday, hitting $70.13. 890,721 shares of the stock traded hands. The company has a 50-day moving average price of $67.80 and a 200-day moving average price of $65.33. The stock has a market cap of $12.73 billion, a PE ratio of 20.64 and a beta of 1.41. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $71.65.
Pentair PLC. (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. Pentair PLC.’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. Equities research analysts expect that Pentair PLC. will post $3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 19th. Pentair PLC.’s payout ratio is 41.82%.
In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of Pentair PLC. stock in a transaction on 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 $1,443,046. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.90% of the stock is owned by 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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