Chevy Chase Trust Holdings Inc. Has $8,933,000 Stake in Pentair PLC (PNR)
Chevy Chase Trust Holdings Inc. reduced its stake in Pentair PLC (NYSE:PNR) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,060 shares of the company’s stock after selling 15,508 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Pentair PLC worth $8,933,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Pentair PLC by 13.1% in the second quarter. Macquarie Group Ltd. now owns 63,826 shares of the company’s stock valued at $3,721,000 after buying an additional 7,394 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Pentair PLC during the second quarter valued at $425,000. Kentucky Retirement Systems acquired a new position in shares of Pentair PLC during the second quarter valued at $896,000. Mason Street Advisors LLC acquired a new position in shares of Pentair PLC during the second quarter valued at $1,419,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Pentair PLC by 82.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,842 shares of the company’s stock valued at $107,000 after buying an additional 833 shares during the last quarter. Institutional investors own 81.08% of the company’s stock.
Pentair PLC (NYSE:PNR) traded down 1.72% during trading on Monday, hitting $57.06. The company had a trading volume of 1,031,979 shares. The company’s market cap is $10.37 billion. Pentair PLC has a 12 month low of $41.57 and a 12 month high of $66.99. The company’s 50 day moving average price is $57.62 and its 200-day moving average price is $60.62.
Pentair PLC (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Pentair PLC had a net margin of 7.70% and a return on equity of 16.61%. The firm earned $1.20 billion during the quarter, compared to analysts’ expectations of $808 million. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Pentair PLC will post $3.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Friday, October 21st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.36%. This is a boost from Pentair PLC’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, October 19th. Pentair PLC’s dividend payout ratio is 51.52%.
A number of research firms have commented on PNR. Zacks Investment Research upgraded Pentair PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Susquehanna cut Pentair PLC from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $69.00 to $59.00 in a research note on Monday, November 7th. RBC Capital Markets restated an “outperform” rating and set a $66.00 price target (down from $73.00) on shares of Pentair PLC in a research note on Friday, October 28th. TheStreet cut Pentair PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Finally, Credit Suisse Group AG began coverage on Pentair PLC in a research note on Monday, September 26th. They set a “neutral” rating and a $66.00 price target on the stock. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. Pentair PLC presently has an average rating of “Hold” and a consensus price target of $59.71.
In related news, Director T Michael Glenn sold 10,000 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $62.61, for a total transaction of $626,100.00. Following the completion of the sale, the director now directly owns 22,535 shares of the company’s stock, valued at approximately $1,410,916.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.
About Pentair PLC
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.
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