Lord Abbett & CO. LLC Has $88.35 Million Position in Pentair PLC. (PNR)

Lord Abbett & CO. LLC lifted its stake in shares of Pentair PLC. (NYSE:PNR) by 193.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,327,823 shares of the industrial products company’s stock after buying an additional 875,023 shares during the quarter. Lord Abbett & CO. LLC owned 0.73% of Pentair PLC. worth $88,353,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PNR. Trian Fund Management L.P. raised its holdings in shares of Pentair PLC. by 6.0% during the 2nd 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 buying an additional 862,769 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Pentair PLC. by 16.1% during the 1st quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock valued at $385,087,000 after buying an additional 850,370 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Pentair PLC. during the 1st quarter valued at about $45,224,000. BlackRock Inc. raised its holdings in shares of Pentair PLC. by 5.1% during the 2nd quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock valued at $808,662,000 after buying an additional 588,818 shares during the period. Finally, Bain Capital Public Equity Management LLC raised its holdings in shares of Pentair PLC. by 67.3% during the 2nd quarter. Bain Capital Public Equity Management LLC now owns 1,321,273 shares of the industrial products company’s stock valued at $87,918,000 after buying an additional 531,652 shares during the period. Institutional investors and hedge funds own 85.51% of the company’s stock.

Shares of Pentair PLC. (PNR) traded down 0.10% on Tuesday, hitting $71.03. The stock had a trading volume of 250,890 shares. The firm’s 50-day moving average is $65.99 and its 200 day moving average is $64.88. The stock has a market cap of $12.89 billion, a P/E ratio of 20.91 and a beta of 1.41. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $71.36.

Pentair PLC. (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, meeting the consensus estimate of $1.00. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 EPS. Equities analysts forecast that Pentair PLC. will post $3.51 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $1.38 annualized dividend and a yield of 1.94%. Pentair PLC.’s dividend payout ratio (DPR) is 40.71%.

In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the company’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 completion of the transaction, the director now owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.90% of the company’s stock.

WARNING: “Lord Abbett & CO. LLC Has $88.35 Million Position in Pentair PLC. (PNR)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/17/lord-abbett-co-llc-has-88-35-million-position-in-pentair-plc-pnr.html.

Several equities research analysts have issued reports on PNR shares. Zacks Investment Research downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. KeyCorp restated a “buy” rating and set a $77.00 price objective on shares of Pentair PLC. in a report on Thursday, October 12th. Stifel Nicolaus restated a “hold” rating and set a $67.00 price objective on shares of Pentair PLC. in a report on Wednesday, October 4th. Robert W. Baird restated a “hold” rating and set a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, October 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $74.

Several other large investors also recently made changes to their positions in PNR. Trian Fund Management L.P. raised its holdings in shares of Pentair PLC. by 6.0% during the 2nd 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 buying an additional 862,769 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Pentair PLC. by 16.1% during the 1st quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock valued at $385,087,000 after buying an additional 850,370 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Pentair PLC. during the 1st quarter valued at about $45,224,000. BlackRock Inc. raised its holdings in shares of Pentair PLC. by 5.1% during the 2nd quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock valued at $808,662,000 after buying an additional 588,818 shares during the period. Finally, Bain Capital Public Equity Management LLC raised its holdings in shares of Pentair PLC. by 67.3% during the 2nd quarter. Bain Capital Public Equity Management LLC now owns 1,321,273 shares of the industrial products company’s stock valued at $87,918,000 after buying an additional 531,652 shares during the period. Institutional investors and hedge funds own 85.51% of the company’s stock.

Shares of Pentair PLC. (PNR) traded down 0.10% on Tuesday, hitting $71.03. The stock had a trading volume of 250,890 shares. The firm’s 50-day moving average is $65.99 and its 200 day moving average is $64.88. The stock has a market cap of $12.89 billion, a P/E ratio of 20.91 and a beta of 1.41. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $71.36.

Pentair PLC. (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, meeting the consensus estimate of $1.00. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 EPS. Equities analysts forecast that Pentair PLC. will post $3.51 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $1.38 annualized dividend and a yield of 1.94%. Pentair PLC.’s dividend payout ratio (DPR) is 40.71%.

In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the company’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 completion of the transaction, the director now owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.90% of the company’s stock.

WARNING: “Lord Abbett & CO. LLC Has $88.35 Million Position in Pentair PLC. (PNR)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/17/lord-abbett-co-llc-has-88-35-million-position-in-pentair-plc-pnr.html.

Several equities research analysts have issued reports on PNR shares. Zacks Investment Research downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. KeyCorp restated a “buy” rating and set a $77.00 price objective on shares of Pentair PLC. in a report on Thursday, October 12th. Stifel Nicolaus restated a “hold” rating and set a $67.00 price objective on shares of Pentair PLC. in a report on Wednesday, October 4th. Robert W. Baird restated a “hold” rating and set a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, October 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $74.00 price objective (up from $70.00) on shares of Pentair PLC. in a report on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Pentair PLC. currently has an average rating of “Hold” and an average target price of $68.15.

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.

Institutional Ownership by Quarter for Pentair PLC. (NYSE:PNR)

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