United Services Automobile Association decreased its stake in shares of Pentair PLC (NYSE:PNR) by 65.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,951 shares of the industrial products company’s stock after selling 99,847 shares during the period. United Services Automobile Association’s holdings in Pentair were worth $1,933,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in PNR. Marshall Wace North America L.P. grew its stake in shares of Pentair by 3,150.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 3,139,107 shares of the industrial products company’s stock worth $116,775,000 after purchasing an additional 3,042,541 shares during the last quarter. BlackRock Inc. grew its stake in shares of Pentair by 19.2% in the 2nd quarter. BlackRock Inc. now owns 16,039,343 shares of the industrial products company’s stock worth $596,665,000 after purchasing an additional 2,582,896 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Pentair by 39.7% in the 2nd quarter. Impax Asset Management Group plc now owns 6,964,821 shares of the industrial products company’s stock worth $259,091,000 after purchasing an additional 1,979,216 shares during the last quarter. Balyasny Asset Management LLC grew its stake in shares of Pentair by 3,979.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 849,412 shares of the industrial products company’s stock worth $31,598,000 after purchasing an additional 828,592 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Pentair by 231.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,066,103 shares of the industrial products company’s stock worth $38,903,000 after purchasing an additional 744,751 shares during the last quarter. 85.76% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Pentair from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. ValuEngine upgraded shares of Pentair from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group initiated coverage on shares of Pentair in a report on Friday, September 20th. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $45.17.
Shares of PNR opened at $35.40 on Wednesday. Pentair PLC has a one year low of $34.50 and a one year high of $45.70. The company has a 50-day moving average of $36.57 and a two-hundred day moving average of $37.78. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 3.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 0.91.
Pentair (NYSE:PNR) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Pentair had a net margin of 12.54% and a return on equity of 21.15%. The company had revenue of $799.50 million during the quarter, compared to analysts’ expectations of $790.62 million. During the same period last year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts anticipate that Pentair PLC will post 2.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, October 17th. Pentair’s payout ratio is 30.64%.
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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