Trian Fund Management LP Increased Its Stake in Pentair Plc (PNR) by $14.76 Million; As Open Text (OTEX) Stock Rose, Holder Praesidium Investment Management Company Has Lowered Its Stake

May 18, 2018 - By Peter Erickson

Open Text Corporation (NASDAQ:OTEX) Logo

Nelson Peltz increased its stake in Pentair Plc (PNR) by 1.39% based on its latest 2017Q4 regulatory filing with the SEC. Trian Fund Management Lp bought 210,876 shares as the company’s stock declined 2.08% with the market. The hedge fund run by Nelson Peltz held 15.41 million shares of the industrial machinery and components company at the end of 2017Q4, valued at $1.09B, up from 15.20 million at the end of the previous reported quarter. Trian Fund Management Lp who had been investing in Pentair Plc for a number of months, seems to be bullish on the $8.16 billion market cap company. The stock increased 0.22% or $0.1 during the last trading session, reaching $45.72. About 1.84 million shares traded or 0.32% up from the average. Pentair plc (NYSE:PNR) has risen 11.82% since May 18, 2017 and is uptrending. It has outperformed by 0.27% the S&P500.

Praesidium Investment Management Company Llc decreased its stake in Open Text Corp (OTEX) by 0.79% based on its latest 2017Q4 regulatory filing with the SEC. Praesidium Investment Management Company Llc sold 21,079 shares as the company’s stock rose 3.97% while stock markets declined. The institutional investor held 2.65M shares of the edp services company at the end of 2017Q4, valued at $94.52 million, down from 2.67 million at the end of the previous reported quarter. Praesidium Investment Management Company Llc who had been investing in Open Text Corp for a number of months, seems to be less bullish one the $9.09B market cap company. The stock decreased 0.41% or $0.14 during the last trading session, reaching $33.99. About 516,981 shares traded or 0.18% up from the average. Open Text Corporation (NASDAQ:OTEX) has risen 0.38% since May 18, 2017 and is uptrending. It has underperformed by 11.17% the S&P500.

Analysts await Open Text Corporation (NASDAQ:OTEX) to report earnings on August, 2. They expect $0.21 earnings per share, up 23.53% or $0.04 from last year’s $0.17 per share. OTEX’s profit will be $56.17 million for 40.46 P/E if the $0.21 EPS becomes a reality. After $0.22 actual earnings per share reported by Open Text Corporation for the previous quarter, Wall Street now forecasts -4.55% negative EPS growth.

Among 12 analysts covering OpenText Corporation (NASDAQ:OTEX), 10 have Buy rating, 1 Sell and 1 Hold. Therefore 83% are positive. OpenText Corporation had 26 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was maintained by Scotia Capital with “Buy” on Thursday, February 1. As per Thursday, August 3, the company rating was maintained by BMO Capital Markets. Macquarie Research downgraded the shares of OTEX in report on Wednesday, November 22 to “Sell” rating. BMO Capital Markets upgraded Open Text Corporation (NASDAQ:OTEX) on Tuesday, September 13 to “Outperform” rating. The stock of Open Text Corporation (NASDAQ:OTEX) has “Overweight” rating given on Tuesday, January 24 by Barclays Capital. The firm earned “Buy” rating on Tuesday, September 26 by RBC Capital Markets. TD Securities initiated it with “Buy” rating and $58 target in Monday, April 4 report. The company was initiated on Thursday, February 16 by Citigroup. The firm has “Buy” rating given on Wednesday, July 12 by RBC Capital Markets. The stock of Open Text Corporation (NASDAQ:OTEX) has “Outperform” rating given on Thursday, July 30 by RBC Capital Markets.

More recent Open Text Corporation (NASDAQ:OTEX) news were published by: Fool.com which released: “This Hedge Fund Manager Thinks Box is the Next Big Thing” on May 15, 2018. Also Prnewswire.com published the news titled: “OpenText to Bring Security to the Edges of the Network and Beyond” on May 15, 2018. Fool.ca‘s news article titled: “Opportunity Knocks! These 2 Canadian Dividend Aristocrats Are Trading at a Discount” with publication date: May 16, 2018 was also an interesting one.

More recent Pentair plc (NYSE:PNR) news were published by: Streetinsider.com which released: “Glenview Capital Enters AmerisourceBergen (ABC), Express Scripts (ESRX), T-Mobile (TMUS) (more…) -13F” on May 15, 2018. Also Seekingalpha.com published the news titled: “Pentair Spin-Off Of nVent Looks Better Than The Parent” on May 03, 2018. Benzinga.com‘s news article titled: “Benzinga’s Top Upgrades, Downgrades For May 17, 2018” with publication date: May 17, 2018 was also an interesting one.

Among 24 analysts covering Pentair Inc. (NYSE:PNR), 6 have Buy rating, 2 Sell and 16 Hold. Therefore 25% are positive. Pentair Inc. had 95 analyst reports since July 22, 2015 according to SRatingsIntel. On Thursday, May 3 the stock rating was downgraded by RBC Capital Markets to “Hold”. Vertical Research upgraded the shares of PNR in report on Monday, January 23 to “Buy” rating. BMO Capital Markets maintained the shares of PNR in report on Wednesday, February 14 with “Market Perform” rating. The firm has “Neutral” rating by Wedbush given on Wednesday, February 3. Cowen & Co upgraded the shares of PNR in report on Tuesday, May 15 to “Outperform” rating. The firm has “Hold” rating by Oppenheimer given on Wednesday, August 16. The firm has “Underperform” rating by Cowen & Co given on Thursday, September 1. Bernstein upgraded it to “Outperform” rating and $71 target in Wednesday, April 27 report. The firm earned “Hold” rating on Tuesday, January 30 by Robert W. Baird. BMO Capital Markets maintained the shares of PNR in report on Wednesday, October 25 with “Market Perform” rating.

Investors sentiment increased to 1.18 in 2017 Q4. Its up 0.14, from 1.04 in 2017Q3. It is positive, as 31 investors sold PNR shares while 139 reduced holdings. 66 funds opened positions while 134 raised stakes. 154.07 million shares or 1.95% more from 151.12 million shares in 2017Q3 were reported. Vaughan Nelson Investment LP accumulated 675,695 shares or 0.55% of the stock. Royal Savings Bank Of Canada has 0.02% invested in Pentair plc (NYSE:PNR) for 691,335 shares. Amundi Pioneer Asset stated it has 0.05% of its portfolio in Pentair plc (NYSE:PNR). Florida-based Deprince Race And Zollo Inc has invested 0.68% in Pentair plc (NYSE:PNR). Moreover, Regions Financial Corp has 0% invested in Pentair plc (NYSE:PNR) for 4,123 shares. Live Your Vision Lc holds 0% or 1 shares in its portfolio. Btr has 1.62% invested in Pentair plc (NYSE:PNR) for 117,453 shares. American Century Cos accumulated 10,328 shares or 0% of the stock. Hilltop Hldgs stated it has 0.22% of its portfolio in Pentair plc (NYSE:PNR). Loring Wolcott & Coolidge Fiduciary Advsr Llp Ma has 581 shares for 0% of their portfolio. Mufg Americas Hldg holds 7,487 shares or 0.02% of its portfolio. Moreover, Us Fincl Bank De has 0.21% invested in Pentair plc (NYSE:PNR). Country Fincl Bank invested in 0% or 22 shares. Advisory Net Ltd Liability Company accumulated 0.01% or 1,683 shares. Capital Fund Management owns 32,500 shares or 0.01% of their US portfolio.

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