Carmignac Gestion acquired a new position in shares of Pentair plc (NYSE:PNR – Get Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,000 shares of the industrial products company’s stock, valued at approximately $366,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Pentair by 0.5% during the first quarter. Vanguard Group Inc. now owns 18,837,080 shares of the industrial products company’s stock worth $1,021,158,000 after acquiring an additional 85,431 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Pentair by 1.0% during the first quarter. BlackRock Inc. now owns 15,173,582 shares of the industrial products company’s stock worth $822,559,000 after acquiring an additional 155,618 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Pentair by 8.2% during the first quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock worth $344,045,000 after acquiring an additional 479,701 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Pentair by 31.7% during the second quarter. ProShare Advisors LLC now owns 3,189,105 shares of the industrial products company’s stock worth $145,965,000 after acquiring an additional 766,974 shares in the last quarter. Finally, Robeco Schweiz AG raised its holdings in shares of Pentair by 10.7% during the second quarter. Robeco Schweiz AG now owns 2,954,100 shares of the industrial products company’s stock worth $135,209,000 after acquiring an additional 286,549 shares in the last quarter. 87.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on PNR shares. Cowen cut their target price on Pentair from $75.00 to $65.00 in a report on Wednesday, July 27th. Barclays cut their target price on Pentair from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, October 3rd. JPMorgan Chase & Co. started coverage on Pentair in a report on Wednesday, October 26th. They set a “neutral” rating and a $42.00 target price on the stock. Stifel Nicolaus cut their target price on Pentair from $50.00 to $48.00 in a report on Tuesday, October 11th. Finally, Cowen cut their target price on Pentair from $75.00 to $65.00 in a report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.00.
Pentair Stock Performance
Pentair (NYSE:PNR – Get Rating) last released its earnings results on Tuesday, October 25th. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Pentair had a return on equity of 24.47% and a net margin of 13.02%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts anticipate that Pentair plc will post 3.65 earnings per share for the current year.
Pentair Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Friday, October 21st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, October 20th. Pentair’s dividend payout ratio (DPR) is presently 26.17%.
Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. 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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