Citizens Financial Group Inc RI raised its holdings in shares of Pentair PLC (NYSE:PNR) by 61.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,393 shares of the industrial products company’s stock after purchasing an additional 908 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Pentair were worth $71,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. ETRADE Capital Management LLC lifted its holdings in Pentair by 2.6% during the 1st quarter. ETRADE Capital Management LLC now owns 33,374 shares of the industrial products company’s stock valued at $994,000 after purchasing an additional 837 shares during the last quarter. Lighthouse Financial Advisors Inc. lifted its holdings in Pentair by 19.7% during the 1st quarter. Lighthouse Financial Advisors Inc. now owns 52,279 shares of the industrial products company’s stock valued at $1,547,000 after purchasing an additional 8,589 shares during the last quarter. Swiss National Bank lifted its holdings in Pentair by 23.1% during the 1st quarter. Swiss National Bank now owns 619,804 shares of the industrial products company’s stock valued at $18,445,000 after purchasing an additional 116,400 shares during the last quarter. WASHINGTON TRUST Co acquired a new stake in Pentair during the 1st quarter valued at $27,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Pentair by 210.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,047 shares of the industrial products company’s stock worth $91,000 after buying an additional 2,064 shares during the period. 86.46% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on PNR. KeyCorp increased their price objective on Pentair from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Rosenblatt Securities increased their price objective on Pentair from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Zacks Investment Research cut Pentair from a “hold” rating to a “sell” rating and set a $38.00 price objective on the stock. in a research report on Tuesday. Morgan Stanley increased their price objective on Pentair from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Citigroup increased their price objective on Pentair from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Pentair has a consensus rating of “Hold” and a consensus price target of $40.75.
Pentair (NYSE:PNR) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08. The company had revenue of $710.00 million for the quarter, compared to analysts’ expectations of $680.04 million. Pentair had a return on equity of 22.25% and a net margin of 12.66%. Pentair’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. Equities research analysts forecast that Pentair PLC will post 2.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, July 23rd. Pentair’s dividend payout ratio (DPR) is presently 31.93%.
Pentair Company Profile
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment 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, pool repair, renovation, service and construction, and aquaculture solution applications.
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