First Mercantile Trust Co. Has $426,000 Stake in Pentair PLC. (PNR)
First Mercantile Trust Co. decreased its position in Pentair PLC. (NYSE:PNR) by 61.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,400 shares of the industrial products company’s stock after selling 10,200 shares during the period. First Mercantile Trust Co.’s holdings in Pentair PLC. were worth $426,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in PNR. Huntington National Bank boosted its stake in shares of Pentair PLC. by 126.8% in the second quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock worth $100,000 after buying an additional 843 shares during the period. Korea Investment CORP boosted its stake in shares of Pentair PLC. by 142.7% in the second quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after buying an additional 942 shares during the period. FNY Partners Fund LP bought a new stake in shares of Pentair PLC. during the first quarter worth approximately $125,000. First Personal Financial Services boosted its stake in shares of Pentair PLC. by 17.6% in the first quarter. First Personal Financial Services now owns 2,006 shares of the industrial products company’s stock worth $126,000 after buying an additional 300 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Pentair PLC. by 6.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,641 shares of the industrial products company’s stock worth $166,000 after buying an additional 157 shares during the period. 86.77% of the stock is owned by institutional investors and hedge funds.
Pentair PLC. (NYSE:PNR) opened at 62.38 on Thursday. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 18.36 and a beta of 1.38. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $69.03. The firm’s 50-day moving average price is $64.42 and its 200 day moving average price is $63.22.
Pentair PLC. (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.00. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $1.11 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, analysts expect that Pentair PLC. will post $3.51 earnings per share for the current year.
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A number of equities research analysts recently commented on the company. BidaskClub cut Pentair PLC. from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Zacks Investment Research cut Pentair PLC. from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Wolfe Research assumed coverage on Pentair PLC. in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. BMO Capital Markets lifted their price objective on Pentair PLC. from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price objective (up from $69.00) on shares of Pentair PLC. in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Pentair PLC. has a consensus rating of “Hold” and a consensus price target of $66.86.
In other news, Director David A. /Wi Jones sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $67.68, for a total value of $676,800.00. Following the completion of the sale, the director now directly owns 20,804 shares in the company, valued at approximately $1,408,014.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark C. Borin sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $67.11, for a total value of $503,325.00. Following the completion of the sale, the insider now owns 16,857 shares of the company’s stock, valued at $1,131,273.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,500 shares of company stock valued at $15,706,725. Company insiders own 9.90% 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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