In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Pentair plc. (NYSE:PNR) reported that Trian Partners has picked up 15,201,775 of common stock as of 2017-05-18.
The acquisition brings the aggregate amount owned by Trian Partners to a total of 15,201,775 representing less than 8.32% stake in the company.
For those not familiar with the company, Pentair plc (PNR) is a multinational diversified industrial company incorporated in Ireland with tax residency in UK, with its main U.S. office located in Minneapolis, Minnesota. Pentair was founded in the US, where roughly half of the company’s revenue is derived as of 2015. However, PNR was reorganized in 2014, shifting the corporate domicile from Switzerland to Ireland. Until a major restructuring in 2004, the company was primarily an industrial tool manufacturer. Now, the company’s primary focus is water and fluid controls used in the energy, food & beverage and manufacturing industries as well as infrastructure. With fiscal year 2015 revenues of US$6.43 billion, Pentair employs more than 30,000 people worldwide.
A glance at Pentair plc. (NYSE:PNR)’s key stats reveals a current market capitalization of 11.89 Billion based on 182.24 Million shares outstanding and a price at last close of $66.24 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-17, Garden picked up 231,864 at a purchase price of $65.31. This brings their total holding to 15,198,888 as of the date of the filing.
On the sell side, the most recent transaction saw Jilek unload 1,367 shares at a sale price of $65.00. This brings their total holding to 31,895.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Pentair plc. (NYSE:PNR) as things move forward to see if its progress aligns with these transactions.
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