Scopus Asset Management L.P. acquired a new position in shares of Pentair plc (NYSE:PNR) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 120,000 shares of the industrial products company’s stock, valued at approximately $7,478,000. Scopus Asset Management L.P. owned 0.07% of Pentair at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Pentair during the 1st quarter worth approximately $37,000. Harbour Investments Inc. acquired a new stake in Pentair in the 1st quarter valued at $42,000. Lazard Asset Management LLC acquired a new stake in Pentair in the 4th quarter valued at $43,000. Capital Advisory Group Advisory Services LLC acquired a new stake in Pentair in the 4th quarter valued at $82,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in Pentair in the 4th quarter valued at $83,000. 81.41% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on PNR shares. Citigroup lifted their price target on shares of Pentair from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, June 11th. Oppenheimer began coverage on shares of Pentair in a research note on Friday, June 11th. They set a “buy” rating and a $75.00 target price on the stock. Morgan Stanley cut shares of Pentair from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $69.00 to $63.00 in a research note on Friday, June 4th. Barclays lifted their target price on shares of Pentair from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 6th. Finally, lifted their target price on shares of Pentair from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, June 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Pentair has an average rating of “Hold” and a consensus target price of $65.12.
Pentair (NYSE:PNR) last issued its quarterly earnings data on Thursday, April 22nd. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.20. The firm had revenue of $865.90 million for the quarter, compared to analyst estimates of $773.01 million. Pentair had a net margin of 13.06% and a return on equity of 22.54%. Pentair’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. On average, analysts anticipate that Pentair plc will post 3.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 23rd will be issued a $0.20 dividend. The ex-dividend date is Thursday, July 22nd. This represents a $0.80 annualized dividend and a yield of 1.17%. Pentair’s dividend payout ratio (DPR) is currently 32.00%.
In related news, EVP John H. Jacko sold 30,979 shares of the business’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $69.51, for a total value of $2,153,350.29. Following the sale, the executive vice president now directly owns 10,790 shares in the company, valued at approximately $750,012.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.96% of the stock is currently owned by insiders.
Pentair Company Profile
Pentair plc provides various smart water solutions worldwide. It operates through two segments, Consumer Solutions; and Industrial & Flow Technologies. The Consumer Solutions segment designs, 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, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.
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