Point72 Asset Management L.P. Trims Stake in Pentair plc (NYSE:PNR)

Point72 Asset Management L.P. lessened its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 68.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,647 shares of the industrial products company's stock after selling 170,799 shares during the quarter. Point72 Asset Management L.P.'s holdings in Pentair were worth $7,691,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. FMR LLC increased its stake in Pentair by 4.7% during the 3rd 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 in the last quarter. Millennium Management LLC grew its holdings in shares of Pentair by 0.7% during 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 buying an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP increased 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 worth $209,132,000 after acquiring 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 worth $159,655,000 after acquiring an additional 996,325 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Pentair by 6.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company's stock valued at $125,704,000 after acquiring an additional 105,724 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Performance

Pentair stock traded up $0.05 during trading on Friday, hitting $108.11. The stock had a trading volume of 678,743 shares, compared to its average volume of 1,090,377. The stock's 50 day moving average is $102.04 and its two-hundred day moving average is $89.96. Pentair plc has a 1 year low of $66.18 and a 1 year high of $110.71. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.94 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 (NYSE:PNR - Get Free Report) last issued its quarterly 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 return on equity of 20.48% and a net margin of 16.29%. The firm had revenue of $993.40 million for the quarter, compared to analysts' expectations of $988.53 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts predict that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, October 18th. Pentair's dividend payout ratio (DPR) is currently 23.00%.

Analysts Set New Price Targets

A number of analysts have commented on PNR shares. KeyCorp boosted their price objective on Pentair from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on Pentair from $93.00 to $103.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. TD Cowen raised their price objective on Pentair from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Pentair from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research began 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. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.13.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business's 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 sale, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Pentair 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.