Westwood Holdings Group Inc. grew its stake in shares of Pentair PLC. (NYSE:PNR) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 733,280 shares of the industrial products company’s stock after purchasing an additional 12,931 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.40% of Pentair PLC. worth $48,662,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. Nomura Holdings Inc. acquired a new stake in Pentair PLC. during the second quarter worth approximately $2,760,000. Bank of Nova Scotia raised its holdings in Pentair PLC. by 6.3% during the second quarter. Bank of Nova Scotia now owns 4,047 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 240 shares in the last quarter. 361 Capital LLC acquired a new stake in Pentair PLC. during the second quarter worth approximately $1,814,000. TVR Capital Management LP acquired a new stake in Pentair PLC. during the second quarter worth approximately $665,000. Finally, Tower Research Capital LLC TRC raised its holdings in Pentair PLC. by 1,736.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,172 shares of the industrial products company’s stock worth $544,000 after purchasing an additional 7,727 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors.
WARNING: This piece was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://sportsperspectives.com/2017/10/12/pentair-plc-pnr-shares-bought-by-westwood-holdings-group-inc.html.
Shares of Pentair PLC. (PNR) traded down 0.07% during trading on Thursday, hitting $69.90. 466,475 shares of the stock were exchanged. Pentair PLC. has a one year low of $53.80 and a one year high of $70.51. The stock’s 50 day moving average price is $65.34 and its 200 day moving average price is $64.75. The stock has a market cap of $12.69 billion, a PE ratio of 20.58 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.00. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. Equities research analysts predict that Pentair PLC. will post $3.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be paid a dividend of $0.345 per share. The ex-dividend date is Thursday, October 19th. This represents a $1.38 dividend on an annualized basis and a yield of 1.97%. Pentair PLC.’s payout ratio is currently 40.71%.
In related news, Director Ronald Merriman sold 5,200 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly 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 through this link. 9.90% of the stock is owned by corporate insiders.
PNR has been the topic of a number of research analyst reports. 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 report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $77.00 price objective on shares of Pentair PLC. in a report on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and set a $70.00 price objective (up previously from $69.00) on shares of Pentair PLC. in a report on Wednesday, July 26th. Jefferies Group LLC reissued a “hold” rating and set a $59.00 price objective on shares of Pentair PLC. in a report on Thursday, September 21st. Finally, BMO Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.15.
Pentair PLC. Profile
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.
Receive News & Ratings for Pentair PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair PLC. and related companies with MarketBeat.com's FREE daily email newsletter.