Citigroup Inc. decreased its position in Pentair plc (NYSE:PNR - Free Report) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,888 shares of the industrial products company's stock after selling 43,937 shares during the period. Citigroup Inc. owned 0.11% of Pentair worth $18,080,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PNR. Millennium Management LLC raised its position in 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 period. Dimensional Fund Advisors LP grew its stake in shares of Pentair by 2.0% in 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 buying an additional 53,787 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Pentair by 91.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company's stock valued at $159,655,000 after buying an additional 996,325 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Pentair by 6.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company's stock worth $125,704,000 after acquiring an additional 105,724 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company's stock worth $134,695,000 after acquiring an additional 1,228,635 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.
Pentair Stock Down 0.1 %
Pentair stock traded down $0.15 during mid-day trading on Thursday, hitting $108.96. The company had a trading volume of 925,026 shares, compared to its average volume of 1,542,700. 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 1 year low of $63.09 and a 1 year high of $110.71. The business has a fifty day moving average of $100.30 and a 200 day moving average of $88.71. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.92 and a beta of 1.19.
Pentair (NYSE:PNR - Get Free Report) last posted its earnings results 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. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period last year, the firm posted $0.94 EPS. The company's revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.
Pentair Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair's payout ratio is currently 23.00%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on PNR. The Goldman Sachs Group lifted their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Pentair from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Mizuho increased their price objective on Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Royal Bank of Canada reissued an "outperform" rating and set a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. Finally, Stifel Nicolaus increased their price target on Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $106.38.
Check Out Our Latest Stock Analysis on Pentair
Insider Activity at Pentair
In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company's stock.
Pentair Profile
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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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