Point72 DIFC Ltd Purchases Shares of 10,587 Pentair plc (NYSE:PNR)

Point72 DIFC Ltd acquired a new position in Pentair plc (NYSE:PNR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,587 shares of the industrial products company's stock, valued at approximately $1,035,000.

A number of other large investors have also recently bought and sold shares of PNR. FMR LLC lifted 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 acquiring an additional 258,134 shares during the period. Millennium Management LLC lifted its position in 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 purchasing an additional 20,946 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Pentair by 91.7% during 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 purchasing an additional 996,325 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of 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 valued at $125,704,000 after buying an additional 105,724 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PNR. Mizuho raised their target price on Pentair from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on shares of Pentair from $93.00 to $103.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. UBS Group increased their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. StockNews.com cut shares of Pentair from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Finally, 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. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.13.

Pentair Price Performance

PNR traded up $0.02 on Friday, reaching $108.08. 678,743 shares of the company's stock were exchanged, compared to its average volume of 1,527,068. Pentair plc has a twelve month low of $66.18 and a twelve month high of $110.71. The stock has a market cap of $17.86 billion, a PE ratio of 27.02, a P/E/G ratio of 1.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The stock's fifty day moving average price is $101.81 and its 200-day moving average price is $89.72.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $988.53 million. During the same period in the previous year, the firm posted $0.94 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Pentair plc will post 4.28 EPS for the current year.

Pentair Dividend Announcement

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

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

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.