Qsemble Capital Management LP purchased a new stake in shares of Pentair plc (NYSE:PNR - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 15,025 shares of the industrial products company's stock, valued at approximately $1,469,000.
A number of other institutional investors have also added to or reduced their stakes in PNR. Millennium Management LLC grew its stake 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 worth $225,779,000 after buying an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Pentair by 2.0% during the 2nd 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 purchasing an additional 996,325 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Pentair by 6.9% in the second 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 purchasing an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company's stock valued at $134,695,000 after purchasing an additional 1,228,635 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Pentair
In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair 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 transaction, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
PNR has been the subject of several recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. Barclays upped their price target on shares of Pentair from $105.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Mizuho lifted their price target on shares of Pentair from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Wolfe Research initiated coverage on Pentair in a report on Tuesday. They set an "outperform" rating and a $125.00 target price on the stock. 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, Pentair currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.38.
Check Out Our Latest Report on PNR
Pentair Trading Up 1.1 %
Shares of Pentair stock traded up $1.21 on Tuesday, reaching $109.15. 1,280,803 shares of the company's stock were exchanged, compared to its average volume of 1,545,373. The firm's 50-day moving average is $99.68 and its two-hundred day moving average is $88.39. The company has a market capitalization of $18.03 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 52 week low of $62.81 and a 52 week high of $109.31.
Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business's revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. Sell-side analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.
Pentair Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued 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 0.84%. Pentair's dividend payout ratio is 23.00%.
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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