Geode Capital Management LLC Grows Holdings in Pentair plc (NYSE:PNR)

Geode Capital Management LLC raised its stake in Pentair plc (NYSE:PNR - Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,999,519 shares of the industrial products company's stock after purchasing an additional 19,853 shares during the quarter. Geode Capital Management LLC owned 2.42% of Pentair worth $389,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PNR. State Street Corp raised its position in Pentair by 3.1% in 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 buying an additional 259,922 shares during the last quarter. FMR LLC raised its holdings in shares of Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company's stock valued at $557,860,000 after purchasing an additional 258,134 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company's stock valued at $225,779,000 after purchasing an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company's stock valued at $209,132,000 after purchasing an additional 53,787 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company's stock worth $159,655,000 after purchasing an additional 996,325 shares during the last quarter. Institutional investors own 92.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PNR shares. Oppenheimer increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Barclays increased their price target on Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Mizuho boosted their price objective on Pentair from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their target price on Pentair from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $109.38.

Pentair Stock Performance

Pentair stock traded down $1.13 during mid-day trading on Friday, reaching $107.16. The company's stock had a trading volume of 1,070,429 shares, compared to its average volume of 1,519,399. The firm's fifty day moving average price is $103.23 and its two-hundred day moving average price is $90.83. 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 12-month low of $68.08 and a 12-month high of $110.71. The company has a market capitalization of $17.71 billion, a P/E ratio of 26.79, a PEG ratio of 1.95 and a beta of 1.20.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating 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 analysts' expectations of $988.53 million. During the same period in the previous year, the business earned $0.94 earnings per share. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.86%. Pentair's dividend payout ratio (DPR) is currently 23.00%.

Insider Activity at Pentair

In related 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 is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Pentair Company 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.