Park Avenue Securities LLC raised its position in Pentair plc (NYSE:PNR - Free Report) by 22.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,712 shares of the industrial products company's stock after buying an additional 4,308 shares during the quarter. Park Avenue Securities LLC's holdings in Pentair were worth $2,386,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in Pentair by 16.0% in the second quarter. American Century Companies Inc. now owns 15,720 shares of the industrial products company's stock valued at $1,205,000 after purchasing an additional 2,164 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Pentair by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 279,206 shares of the industrial products company's stock worth $21,407,000 after buying an additional 14,937 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Pentair by 1,217.6% in the second quarter. Brown Brothers Harriman & Co. now owns 975 shares of the industrial products company's stock valued at $75,000 after buying an additional 901 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 worth $209,132,000 after acquiring an additional 53,787 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in Pentair by 14.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,385 shares of the industrial products company's stock worth $1,330,000 after acquiring an additional 2,175 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on PNR. KeyCorp restated a "sector weight" rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Mizuho boosted their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 target price for the company. Oppenheimer boosted their price target on Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, UBS Group raised their price objective on Pentair from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $111.13.
View Our Latest Report on PNR
Insider Activity at Pentair
In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business's stock in a transaction dated Friday, November 1st. The shares were 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 $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.
Pentair Stock Up 0.4 %
Shares of NYSE PNR traded up $0.40 on Friday, hitting $102.98. The company had a trading volume of 993,945 shares, compared to its average volume of 905,260. 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 12-month low of $69.56 and a 12-month high of $110.71. The firm has a market capitalization of $17.02 billion, a P/E ratio of 25.75, a PEG ratio of 1.55 and a beta of 1.21. The business has a 50 day moving average of $104.27 and a two-hundred day moving average of $94.86.
Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, equities research analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.
Pentair Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pentair's previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 0.97%. Pentair's payout ratio is currently 23.00%.
Pentair Company Profile
(
Free Report)
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.
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