BlackRock Inc. raised its position in Pentair PLC (NYSE:PNR) by 19.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,039,343 shares of the industrial products company’s stock after purchasing an additional 2,582,896 shares during the quarter. BlackRock Inc. owned 9.54% of Pentair worth $596,665,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Personal Wealth Partners acquired a new position in Pentair during the 2nd quarter valued at approximately $40,000. Twin Tree Management LP acquired a new position in Pentair during the 1st quarter valued at approximately $49,000. Huntington National Bank boosted its position in Pentair by 25.0% during 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 acquired a new position in Pentair during the 2nd quarter valued at approximately $65,000. Finally, Icon Wealth Partners LLC acquired a new position in Pentair during the 1st quarter valued at approximately $100,000. Institutional investors own 85.76% of the company’s stock.
Several analysts have weighed in on PNR shares. Jefferies Financial Group started coverage on Pentair in a research note on Friday, September 20th. They set a “hold” rating on the stock. ValuEngine raised Pentair from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley boosted their price objective on Pentair from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $45.17.
Shares of Pentair stock traded up $1.23 on Friday, reaching $37.36. 894,595 shares of the company were exchanged, compared to its average volume of 1,051,748. Pentair PLC has a fifty-two week low of $34.50 and a fifty-two week high of $45.70. 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 $5.98 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 2.99 and a beta of 1.18. The stock has a fifty day moving average price of $36.55 and a 200-day moving average price of $37.69.
Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.69 earnings per share for the quarter, beating 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 quarter in the previous year, the company posted $0.71 earnings per share. Pentair’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Pentair PLC will post 2.33 earnings per share for the current fiscal 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 paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.72 dividend on an annualized basis and a yield of 1.93%. Pentair’s dividend payout ratio (DPR) is currently 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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