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Pennon Group plc (PNN) is a British environmental infrastructure company based in Exeter, England. It operates and invests primarily in the areas of water and sewerage services, as well as waste management. The group’s principal subsidiary, South West Water, provides water and sewerage services in Devon, Cornwall and parts of Somerset and Dorset. Another subsidiary, Bournemouth Water, is engaged in providing the water services for parts of Wiltshire, Hampshire and Dorset.
Pennon’s shares are listed on the London Stock Exchange (LSE) under the ticker symbol PNN. The company is a constituent of the FTSE 100 Index and the FTSE 250 index.
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In 1989, the company was founded as South West Water plc. Acquisitions have been one of the key growth strategies for the business from the very beginning. It bought Haul Waste in 1993 and Blue Circle Waste Management in 1995. In 1998, the company’s name was changed to Pennon Group plc.
Going into the 21st century, Pennon’s most prominent purchases included Thames Waste Management in 2004, Wyvern Waste in 2006, Skipaway Holdings and Grosvenor Waste Management in 2007 and Shore Recycling in 2008. In 2016, it acquired Bournemouth Water for £100m.
In July 2020, KKR, an American global investment company, bought Pennon Group’s waste firm Viridor for £4.2bn.
With Capital.com’s PNN share price chart you can not only quickly view the current PNN stock quote, but also trace the company’s shares value in historic terms.
The company went public on the LSE in 1989. Over the decades of trade, the stock has experienced great volatility, characterised by multiple price fluctuations.
In August 2019, after trading around 700 GBX, the share price gained a strong upside momentum, peaking at its all-time high of 1,202 GBX in February 2020. In March, however, the stock shed in value significantly amid the broader market sell-off caused by the Covid-19 pandemic. On March 12, PNN shares fell to 967 GBX.
The stock soon recovered its losses, soaring up to 1,193 GBX in early June. It then slid to end 2020 at 950 GBX.
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