Pentair PLC. (PNR) Shares Sold by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd cut its stake in shares of Pentair PLC. (NYSE:PNR) by 37.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,416 shares of the industrial products company’s stock after selling 50,885 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Pentair PLC. were worth $5,684,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Counselors Inc. boosted its stake in Pentair PLC. by 0.3% during the second quarter. Financial Counselors Inc. now owns 90,747 shares of the industrial products company’s stock worth $6,038,000 after acquiring an additional 295 shares in the last quarter. Skba Capital Management LLC boosted its stake in Pentair PLC. by 10.2% during the second quarter. Skba Capital Management LLC now owns 3,570 shares of the industrial products company’s stock worth $238,000 after acquiring an additional 330 shares in the last quarter. Systematic Financial Management LP bought a new position in Pentair PLC. during the second quarter worth $2,199,000. Eaton Vance Management boosted its stake in Pentair PLC. by 18.3% during the second quarter. Eaton Vance Management now owns 64,587 shares of the industrial products company’s stock worth $4,298,000 after acquiring an additional 10,000 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new position in Pentair PLC. during the second quarter worth $1,356,000. 85.59% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Pentair PLC. (PNR) traded up 1.74% during mid-day trading on Monday, hitting $63.10. 123,646 shares of the stock traded hands. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $69.03. The company’s 50-day moving average price is $62.06 and its 200 day moving average price is $63.58. The company has a market capitalization of $11.45 billion, a PE ratio of 18.58 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.00. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 EPS. Equities research analysts forecast that Pentair PLC. will post $3.51 EPS for the current fiscal year.
Several research analysts recently issued reports on PNR shares. BidaskClub lowered shares of Pentair PLC. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada reissued a “buy” rating and set a $77.00 target price on shares of Pentair PLC. in a research note on Tuesday, June 6th. Zacks Investment Research raised shares of Pentair PLC. from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Tuesday, June 6th. KeyCorp raised shares of Pentair PLC. from a “sector weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a research note on Wednesday, May 17th. Finally, Wolfe Research started coverage on shares of Pentair PLC. in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $67.23.
Pentair PLC. Profile
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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