Pentair PLC.’s (NYSE:PNR) Hold Rating Reiterated at Robert W. Baird
Robert W. Baird restated their hold rating on shares of Pentair PLC. (NYSE:PNR) in a research report released on Wednesday, October 4th. They currently have a $70.00 price target on the industrial products company’s stock.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Pentair PLC. from a hold rating to a buy rating and set a $75.00 price objective on the stock in a research report on Wednesday, July 12th. Stifel Nicolaus reiterated a hold rating and set a $67.00 price target on shares of Pentair PLC. in a report on Wednesday, October 4th. Morgan Stanley restated an equal weight rating and issued a $74.00 price objective (up previously from $70.00) on shares of Pentair PLC. in a research note on Monday, October 2nd. Cowen and Company restated an underperform rating and issued a $61.00 price objective (up previously from $59.00) on shares of Pentair PLC. in a research note on Monday, October 2nd. Finally, BidaskClub downgraded shares of Pentair PLC. from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Pentair PLC. currently has a consensus rating of Hold and an average target price of $68.15.
Pentair PLC. (NYSE PNR) traded up 0.13% during midday trading on Wednesday, reaching $69.98. 961,196 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $65.86 and its 200-day moving average price is $64.85. The company has a market capitalization of $12.70 billion, a PE ratio of 20.60 and a beta of 1.41. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $70.51.
Pentair PLC. (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.00. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. Equities analysts expect that Pentair PLC. will post $3.51 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be paid a $0.345 dividend. 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 40.71%.
In other news, Director Ronald Merriman sold 5,200 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $67.00, for a total transaction of $348,400.00. Following the sale, the director now owns 21,538 shares in the company, valued at approximately $1,443,046. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 9.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank raised its stake in 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 acquiring an additional 843 shares during the period. Korea Investment CORP grew its holdings in 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 buying an additional 942 shares in the last quarter. YorkBridge Wealth Partners LLC grew its holdings in 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 buying an additional 111 shares in the last quarter. FNY Partners Fund LP acquired a new position in Pentair PLC. in the 1st quarter valued at $125,000. Finally, Krilogy Financial LLC grew its holdings in Pentair PLC. by 121.2% in the 2nd quarter. Krilogy Financial LLC now owns 2,281 shares of the industrial products company’s stock valued at $152,000 after buying an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.
About Pentair PLC.
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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