Legal & General Group Plc lessened its stake in Pentair PLC (NYSE:PNR) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 813,343 shares of the industrial products company’s stock after selling 25,099 shares during the period. Legal & General Group Plc owned 0.46% of Pentair worth $55,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fieldpoint Private Securities LLC acquired a new stake in Pentair in the fourth quarter worth about $127,000. Icon Wealth Partners LLC acquired a new stake in Pentair in the fourth quarter worth about $134,000. Glenmede Trust Co. NA boosted its holdings in Pentair by 71.0% in the fourth quarter. Glenmede Trust Co. NA now owns 1,987 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 825 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in Pentair in the first quarter worth about $170,000. Finally, Assetmark Inc. boosted its holdings in Pentair by 107.2% in the fourth quarter. Assetmark Inc. now owns 2,969 shares of the industrial products company’s stock worth $210,000 after acquiring an additional 1,536 shares in the last quarter. Institutional investors own 86.26% of the company’s stock.
In other Pentair news, Director Trian Fund Management, L.P. sold 1,675,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $44.14, for a total value of $73,934,500.00. Following the completion of the transaction, the director now directly owns 2,862 shares of the company’s stock, valued at $126,328.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Randall J. Hogan sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $71.50, for a total value of $7,150,000.00. Following the completion of the transaction, the chairman now directly owns 83,055 shares of the company’s stock, valued at $5,938,432.50. The disclosure for this sale can be found here. Insiders own 10.70% of the company’s stock.
PNR has been the subject of several recent analyst reports. Zacks Investment Research raised Pentair from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Thursday, March 22nd. Vertical Research downgraded Pentair from a “buy” rating to a “hold” rating in a report on Monday, April 16th. Goldman Sachs Group initiated coverage on Pentair in a report on Thursday, May 3rd. They issued a “neutral” rating and a $49.00 price target for the company. UBS Group raised Pentair from a “sell” rating to a “neutral” rating and set a $73.00 price target for the company in a report on Monday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Pentair from $79.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, May 1st. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $63.21.
Pentair opened at $41.85 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.65 and a quick ratio of 2.07. Pentair PLC has a 52 week low of $39.70 and a 52 week high of $50.25. The stock has a market cap of $7.55 billion, a P/E ratio of 11.86, a PEG ratio of 1.86 and a beta of 1.34.
Pentair (NYSE:PNR) last released its earnings results on Thursday, April 19th. The industrial products company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.05. Pentair had a return on equity of 14.01% and a net margin of 13.57%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. equities analysts anticipate that Pentair PLC will post 2.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 3rd. Investors of record on Friday, July 20th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, July 19th. Pentair’s dividend payout ratio (DPR) is 39.66%.
Pentair Company Profile
Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair PLC (NYSE:PNR).
Receive News & Ratings for Pentair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair and related companies with MarketBeat.com's FREE daily email newsletter.