Manning & Napier Advisors LLC Acquires 728 Shares of Pentair PLC. (PNR)
Manning & Napier Advisors LLC increased its holdings in shares of Pentair PLC. (NYSE:PNR) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,400 shares of the industrial products company’s stock after purchasing an additional 728 shares during the period. Manning & Napier Advisors LLC’s holdings in Pentair PLC. were worth $1,114,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in shares of Pentair PLC. by 2.8% in the 2nd quarter. Swiss National Bank now owns 629,157 shares of the industrial products company’s stock worth $41,864,000 after acquiring an additional 17,400 shares during the period. Trian Fund Management L.P. lifted its stake in shares of Pentair PLC. by 6.0% in the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock valued at $1,011,470,000 after purchasing an additional 862,769 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Pentair PLC. by 8.3% in the second quarter. Neuberger Berman Group LLC now owns 611,177 shares of the industrial products company’s stock valued at $40,668,000 after purchasing an additional 46,856 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Pentair PLC. during the 2nd quarter valued at about $1,487,000. Finally, APG Asset Management N.V. increased its holdings in Pentair PLC. by 6.9% during the 3rd quarter. APG Asset Management N.V. now owns 192,828 shares of the industrial products company’s stock valued at $13,105,000 after acquiring an additional 12,500 shares in the last quarter. Institutional investors own 85.21% of the company’s stock.
In other news, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $67.00, for a total value of $348,400.00. Following the transaction, the director now owns 21,538 shares in the company, valued at $1,443,046. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William T. Monahan sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $70.27, for a total value of $702,700.00. Following the completion of the transaction, the director now owns 50,656 shares in the company, valued at approximately $3,559,597.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,247 shares of company stock worth $14,266,336. 9.90% of the stock is owned by corporate insiders.
Pentair PLC. (NYSE:PNR) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Pentair PLC. had a return on equity of 13.39% and a net margin of 12.50%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. sell-side analysts forecast that Pentair PLC. will post 3.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Friday, October 20th were given a dividend of $0.345 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $1.38 annualized dividend and a dividend yield of 1.99%. Pentair PLC.’s payout ratio is 41.82%.
Several research firms have weighed in on PNR. Jefferies Group LLC restated a “hold” rating and set a $59.00 target price on shares of Pentair PLC. in a report on Thursday, September 21st. BidaskClub downgraded shares of Pentair PLC. from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Bank of America Corporation reiterated a “sell” rating and set a $65.00 price target on shares of Pentair PLC. in a report on Wednesday, July 26th. BMO Capital Markets boosted their target price on shares of Pentair PLC. from $78.00 to $79.00 and gave the company a “market perform” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of Pentair PLC. from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.92.
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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