Weiss Asset Management LP Acquires New Shares in Pentair plc (NYSE:PNR)

Weiss Asset Management LP acquired a new position in shares of Pentair plc (NYSE:PNR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,054 shares of the industrial products company's stock, valued at approximately $2,254,000.

A number of other institutional investors have also recently bought and sold shares of PNR. State Street Corp lifted its holdings in shares of Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company's stock valued at $856,257,000 after purchasing an additional 259,922 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Pentair by 64.2% in the third quarter. Quantinno Capital Management LP now owns 19,297 shares of the industrial products company's stock valued at $1,887,000 after buying an additional 7,546 shares in the last quarter. Quarry LP lifted its stake in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company's stock valued at $26,000 after buying an additional 134 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Pentair in the third quarter valued at approximately $1,035,000. Finally, Ingalls & Snyder LLC bought a new stake in shares of Pentair during the third quarter worth $210,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares of the company's stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Pentair Stock Performance

NYSE:PNR traded up $0.05 during mid-day trading on Friday, hitting $108.11. The stock had a trading volume of 678,743 shares, compared to its average volume of 1,090,377. The company's 50 day simple moving average is $102.04 and its 200 day simple moving average is $89.92. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a twelve month low of $66.18 and a twelve month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the previous year, the company posted $0.94 EPS. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair's payout ratio is presently 23.00%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PNR shares. TD Cowen boosted their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Wolfe Research started coverage on Pentair in a report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price target on the stock. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their target price on Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, Barclays raised their price target on shares of Pentair from $108.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Pentair currently has a consensus rating of "Moderate Buy" and an average target price of $107.13.

Pentair Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.