State Street Corp Has $856.26 Million Stake in Pentair plc (NYSE:PNR)

State Street Corp grew its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,756,075 shares of the industrial products company's stock after buying an additional 259,922 shares during the period. State Street Corp owned 5.30% of Pentair worth $856,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Advisors LLC increased its holdings in Pentair by 64.3% in the 1st quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company's stock valued at $593,000 after purchasing an additional 2,718 shares in the last quarter. CWM LLC boosted its holdings in Pentair by 88.2% in the second quarter. CWM LLC now owns 5,414 shares of the industrial products company's stock valued at $415,000 after purchasing an additional 2,538 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Pentair by 5.5% during the 2nd quarter. QRG Capital Management Inc. now owns 9,131 shares of the industrial products company's stock worth $700,000 after purchasing an additional 477 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Pentair in the second quarter worth $25,000. Finally, Czech National Bank boosted its stake in Pentair by 8.7% during the 2nd quarter. Czech National Bank now owns 31,637 shares of the industrial products company's stock valued at $2,426,000 after acquiring an additional 2,543 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Price Performance

Shares of NYSE PNR traded up $0.05 during mid-day trading on Friday, reaching $108.11. 678,743 shares of the company traded hands, compared to its average volume of 1,090,377. The firm has a market cap of $17.86 billion, a PE ratio of 27.03, a price-to-earnings-growth 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. Pentair plc has a fifty-two week low of $66.18 and a fifty-two week high of $110.71. The stock has a fifty day simple moving average of $102.04 and a 200-day simple moving average of $89.92.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data 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. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The company's revenue was down 1.5% on a year-over-year basis. Equities research analysts anticipate 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 issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair's payout ratio is 23.00%.

Insider Activity 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 transaction 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. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target on the stock. UBS Group upped their price target on Pentair from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on shares of Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Barclays lifted their price target on shares of Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Mizuho lifted their target price on Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Pentair has a consensus rating of "Moderate Buy" and a consensus target price of $107.13.

About Pentair

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.