National Bank of Canada FI Grows Position in Pentair plc (NYSE:PNR)

National Bank of Canada FI raised its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 862.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 441,887 shares of the industrial products company's stock after purchasing an additional 395,962 shares during the quarter. National Bank of Canada FI owned approximately 0.27% of Pentair worth $43,212,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNR. iA Global Asset Management Inc. raised its position in shares of Pentair by 13.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 3,609 shares of the industrial products company's stock worth $353,000 after acquiring an additional 421 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Pentair during the third quarter valued at $440,000. Wahed Invest LLC boosted its holdings in shares of Pentair by 10.8% during the 3rd quarter. Wahed Invest LLC now owns 4,007 shares of the industrial products company's stock valued at $392,000 after buying an additional 392 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Pentair in the 3rd quarter worth about $2,254,000. Finally, State Street Corp increased its stake in shares of Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company's stock worth $856,257,000 after acquiring an additional 259,922 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Pentair from $108.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday. Royal Bank of Canada reissued an "outperform" rating and issued a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on Pentair from $101.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their target price on Pentair from $106.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $108.69.

Pentair Stock Performance

PNR traded up $0.14 during mid-day trading on Monday, reaching $108.25. 1,113,691 shares of the company traded hands, compared to its average volume of 1,525,225. The company's fifty day moving average price is $102.04 and its 200-day moving average price is $89.96. The stock has a market capitalization of $17.89 billion, a P/E ratio of 27.06, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a 52-week low of $66.77 and a 52-week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analysts' expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. Pentair's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, sell-side analysts expect that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid 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 dividend payout ratio (DPR) is currently 23.00%.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

About Pentair

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.