Trian Fund Management, L.P. Acquires 384,571 Shares of Pentair PLC. (NYSE:PNR) Stock

Pentair PLC. (NYSE:PNR) Director Trian Fund Management, L.P. acquired 384,571 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $68.41 per share, with a total value of $26,308,502.11. Following the completion of the purchase, the director now directly owns 1,122 shares of the company’s stock, valued at approximately $76,756.02. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Trian Fund Management, L.P. also recently made the following trade(s):

  • On Monday, November 27th, Trian Fund Management, L.P. bought 9,966 shares of Pentair stock. The shares were acquired at an average price of $69.22 per share, with a total value of $689,846.52.
  • On Thursday, November 16th, Trian Fund Management, L.P. sold 183,661 shares of Pentair stock. The stock was sold at an average price of $67.60, for a total transaction of $12,415,483.60.

Shares of Pentair PLC. (NYSE PNR) traded up $0.19 during trading on Thursday, reaching $69.42. 947,998 shares of the company’s stock traded hands, compared to its average volume of 986,389. Pentair PLC. has a 52 week low of $55.76 and a 52 week high of $71.76. The stock has a market cap of $12,448.50, a P/E ratio of 20.28, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.05.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. Pentair had a net margin of 12.50% and a return on equity of 13.39%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business earned $0.78 EPS. The business’s revenue was up 1.3% on a year-over-year basis. sell-side analysts anticipate that Pentair PLC. will post 3.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 26th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, January 25th. This is a boost from Pentair’s previous quarterly dividend of $0.35. Pentair’s dividend payout ratio (DPR) is 41.82%.

Several equities analysts have recently commented on PNR shares. Zacks Investment Research lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. BMO Capital Markets restated a “hold” rating and issued a $70.00 price objective on shares of Pentair in a report on Wednesday, September 6th. KeyCorp reiterated a “buy” rating and set a $77.00 target price on shares of Pentair in a report on Thursday, October 12th. Robert W. Baird increased their target price on shares of Pentair from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Cowen reiterated an “underperform” rating and set a $61.00 target price (up from $59.00) on shares of Pentair in a report on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Pentair has a consensus rating of “Hold” and an average price target of $70.67.

Several hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Pentair by 126.8% in the second quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 843 shares during the period. Tiedemann Wealth Management LLC raised its holdings in Pentair by 25.8% in the third quarter. Tiedemann Wealth Management LLC now owns 10,182 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 2,091 shares in the last quarter. Korea Investment CORP raised its holdings in Pentair by 142.7% in the second quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 942 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Pentair in the third quarter valued at $116,000. Finally, YorkBridge Wealth Partners LLC raised its holdings in Pentair by 6.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 111 shares in the last quarter. Institutional investors own 84.56% of the company’s stock.

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About Pentair

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.

Insider Buying and Selling by Quarter for Pentair (NYSE:PNR)

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