New York State Teachers Retirement System lessened its stake in Pentair PLC (NYSE:PNR) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 148,959 shares of the industrial products company’s stock after selling 11,557 shares during the period. New York State Teachers Retirement System’s holdings in Pentair were worth $5,541,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNR. Norges Bank bought a new stake in shares of Pentair in the 4th quarter valued at about $66,268,000. SG Americas Securities LLC lifted its stake in shares of Pentair by 3,459.9% in the 1st quarter. SG Americas Securities LLC now owns 661,794 shares of the industrial products company’s stock valued at $29,456,000 after purchasing an additional 643,204 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Pentair by 242.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 890,811 shares of the industrial products company’s stock valued at $39,650,000 after purchasing an additional 630,836 shares during the period. Marshall Wace LLP lifted its stake in shares of Pentair by 844.1% in the 1st quarter. Marshall Wace LLP now owns 479,800 shares of the industrial products company’s stock valued at $21,356,000 after purchasing an additional 428,977 shares during the period. Finally, Boston Partners acquired a new position in shares of Pentair in the 1st quarter valued at about $15,820,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.
PNR stock traded down $1.42 during trading on Friday, reaching $37.25. 1,845,658 shares of the stock were exchanged, compared to its average volume of 1,461,063. The business’s 50 day simple moving average is $37.54. Pentair PLC has a twelve month low of $34.72 and a twelve month high of $45.99. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.80 and a beta of 1.18.
Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Pentair had a return on equity of 21.15% and a net margin of 12.54%. The business had revenue of $799.50 million for the quarter, compared to the consensus estimate of $790.62 million. During the same period in the prior year, the business earned $0.71 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that Pentair PLC will post 2.32 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Friday, July 19th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, July 18th. Pentair’s dividend payout ratio (DPR) is currently 30.64%.
PNR has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Pentair to $39.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Zacks Investment Research downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Cowen reissued an “outperform” rating and issued a $45.00 price objective (down from $52.00) on shares of Pentair in a research note on Monday, April 22nd. Morgan Stanley boosted their price objective on Pentair from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Finally, ValuEngine raised Pentair from a “sell” rating to a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Pentair presently has an average rating of “Hold” and a consensus target price of $45.17.
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.
Recommended Story: Earnings Reports
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.