Pentair PLC (NYSE:PNR) Short Interest Down 6.9% in July

Pentair PLC (NYSE:PNR) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 4,393,400 shares, a drop of 6.9% from the June 15th total of 4,721,500 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,610,000 shares, the days-to-cover ratio is presently 2.7 days.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Pentair by 2.4% during the 1st quarter. BlackRock Inc. now owns 13,456,447 shares of the industrial products company’s stock worth $598,946,000 after buying an additional 317,599 shares during the period. Clearbridge Investments LLC grew its position in shares of Pentair by 2.5% during the 1st quarter. Clearbridge Investments LLC now owns 4,251,011 shares of the industrial products company’s stock worth $189,213,000 after buying an additional 102,888 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pentair by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,636,336 shares of the industrial products company’s stock worth $99,599,000 after buying an additional 74,511 shares during the period. Geode Capital Management LLC grew its position in shares of Pentair by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,522,995 shares of the industrial products company’s stock worth $95,180,000 after buying an additional 33,519 shares during the period. Finally, Northern Trust Corp grew its position in shares of Pentair by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,980,850 shares of the industrial products company’s stock worth $88,168,000 after buying an additional 72,733 shares during the period. Institutional investors own 85.94% of the company’s stock.

A number of brokerages recently commented on PNR. Morgan Stanley lifted their price objective on Pentair from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. BMO Capital Markets lowered their price objective on Pentair to $39.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Cowen reiterated an “outperform” rating and issued a $45.00 price objective (down from $52.00) on shares of Pentair in a research report on Monday, April 22nd. Zacks Investment Research lowered Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, ValuEngine lowered Pentair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Pentair presently has a consensus rating of “Hold” and a consensus target price of $45.17.

Shares of PNR stock opened at $38.81 on Thursday. The stock has a 50-day moving average price of $37.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.91 and a current ratio of 1.47. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.20. Pentair has a 12 month low of $34.72 and a 12 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The firm had revenue of $799.50 million during the quarter, compared to analyst estimates of $790.62 million. Pentair had a return on equity of 21.15% and a net margin of 12.54%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. On average, analysts expect that Pentair will post 2.32 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.72 annualized dividend and a dividend yield of 1.86%. Pentair’s payout ratio is currently 30.64%.

About Pentair

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.

Further Reading: Rule of 72

Receive News & Ratings for Pentair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair and related companies with MarketBeat.com's FREE daily email newsletter.