Quantinno Capital Management LP raised its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 64.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,297 shares of the industrial products company's stock after acquiring an additional 7,546 shares during the quarter. Quantinno Capital Management LP's holdings in Pentair were worth $1,887,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Harbour Investments Inc. lifted its holdings in shares of Pentair by 10.7% in the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company's stock valued at $644,000 after purchasing an additional 636 shares during the last quarter. Swedbank AB lifted its holdings in shares of Pentair by 0.9% in the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company's stock valued at $87,885,000 after purchasing an additional 10,000 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Pentair in the 3rd quarter valued at about $479,000. FMR LLC lifted its holdings in shares of Pentair by 4.7% in 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 during the last quarter. Finally, Pathstone Holdings LLC increased its stake in Pentair by 47.4% in the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company's stock valued at $1,944,000 after purchasing an additional 6,391 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Pentair
In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair 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 completion of the sale, the executive vice president now directly owns 19,232 shares of the company's stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.
Pentair Price Performance
NYSE PNR traded down $0.92 during mid-day trading on Thursday, hitting $108.29. The stock had a trading volume of 951,710 shares, compared to its average volume of 1,521,378. The company has a 50 day simple moving average of $103.00 and a 200 day simple moving average of $90.58. The company has a market cap of $17.89 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 1.93 and a beta of 1.20. Pentair plc has a 52-week low of $66.77 and a 52-week high of $110.71. 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 posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. Pentair's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. Equities analysts forecast that Pentair plc will post 4.28 EPS for the current fiscal year.
Pentair Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, October 18th. Pentair's payout ratio is currently 23.00%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Pentair from $108.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Wolfe Research assumed coverage on Pentair in a research note on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 target price on the stock. StockNews.com cut Pentair from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price objective on shares of Pentair from $113.00 to $126.00 and gave the stock a "buy" rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.38.
Check Out Our Latest Stock Analysis on Pentair
Pentair Profile
(
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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