Prudential Financial Inc. cut its position in Pentair PLC (NYSE:PNR) by 76.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,908 shares of the industrial products company’s stock after selling 462,910 shares during the quarter. Prudential Financial Inc. owned about 0.09% of Pentair worth $5,316,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Personal Wealth Partners bought a new stake in Pentair in the 2nd quarter valued at $40,000. Twin Tree Management LP bought a new stake in Pentair in the 1st quarter valued at $49,000. Huntington National Bank boosted its stake in Pentair by 25.0% in the 2nd quarter. Huntington National Bank now owns 1,519 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 304 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Pentair in the 2nd quarter valued at $65,000. Finally, Icon Wealth Partners LLC bought a new stake in Pentair in the 1st quarter valued at $100,000. Institutional investors and hedge funds own 85.76% of the company’s stock.
Several research firms recently issued reports on PNR. Morgan Stanley boosted their price target on Pentair from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. ValuEngine upgraded Pentair from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.17.
NYSE PNR traded up $0.04 during midday trading on Friday, hitting $37.79. The company had a trading volume of 15,908 shares, compared to its average volume of 994,685. The company has a market capitalization of $6.40 billion, a PE ratio of 16.07, a P/E/G ratio of 3.10 and a beta of 1.18. 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 50-day moving average price of $36.77 and a 200-day moving average price of $38.51. Pentair PLC has a twelve month low of $34.50 and a twelve month high of $45.99.
Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The firm had revenue of $799.50 million during the quarter, compared to analysts’ expectations of $790.62 million. Pentair had a return on equity of 21.15% and a net margin of 12.54%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS. On average, equities analysts anticipate that Pentair PLC will post 2.34 EPS for the current year.
Pentair Company Profile
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.
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