Pathstone Holdings LLC Boosts Stock Holdings in Pentair plc (NYSE:PNR)

Pathstone Holdings LLC grew its stake in Pentair plc (NYSE:PNR - Free Report) by 47.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,881 shares of the industrial products company's stock after buying an additional 6,391 shares during the period. Pathstone Holdings LLC's holdings in Pentair were worth $1,944,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PNR. Swiss National Bank increased its position in shares of Pentair by 0.7% in the third quarter. Swiss National Bank now owns 492,787 shares of the industrial products company's stock valued at $48,190,000 after buying an additional 3,300 shares in the last quarter. Claro Advisors LLC purchased a new position in Pentair in the third quarter valued at approximately $249,000. Natixis Advisors LLC raised its position in Pentair by 4.1% in the third quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company's stock valued at $10,083,000 after purchasing an additional 4,074 shares during the period. Mizuho Securities USA LLC lifted its position in Pentair by 596.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 89,069 shares of the industrial products company's stock worth $8,710,000 after acquiring an additional 76,273 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Pentair by 9.3% during the 3rd quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company's stock valued at $1,890,000 after purchasing an additional 1,640 shares in the last quarter. 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 the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.28% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Oppenheimer upped their price objective on Pentair from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Mizuho raised their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of Pentair from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Finally, Stifel Nicolaus boosted their price target on Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $106.38.

Pentair Stock Up 1.1 %

Shares of NYSE PNR opened at $109.15 on Wednesday. The company has a market cap of $18.03 billion, a P/E ratio of 27.29, a PEG ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a 1 year low of $62.81 and a 1 year high of $109.31. The firm has a 50-day simple moving average of $99.68 and a two-hundred day simple moving average of $88.39.

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

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair's payout ratio is 23.00%.

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.