Adage Capital Partners GP L.L.C. Buys 120,687 Shares of Pentair plc (NYSE:PNR)

Adage Capital Partners GP L.L.C. lifted its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 39.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 429,402 shares of the industrial products company's stock after acquiring an additional 120,687 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.26% of Pentair worth $43,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new position in shares of Pentair in the 3rd quarter valued at about $302,000. Wilmington Savings Fund Society FSB bought a new position in shares of Pentair in the 3rd quarter valued at approximately $117,000. Tidal Investments LLC lifted its stake in shares of Pentair by 35.1% in the third quarter. Tidal Investments LLC now owns 14,430 shares of the industrial products company's stock worth $1,411,000 after buying an additional 3,752 shares during the last quarter. Franklin Resources Inc. grew its stake in Pentair by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 32,249 shares of the industrial products company's stock valued at $3,187,000 after buying an additional 1,093 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Pentair by 5.5% in the third quarter. Principal Financial Group Inc. now owns 219,061 shares of the industrial products company's stock valued at $21,422,000 after purchasing an additional 11,392 shares during the last quarter. Institutional investors own 92.37% of the company's stock.

Insider Transactions at Pentair

In related news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the transaction, the director now owns 26,313 shares in the company, valued at approximately $2,366,591.22. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Pentair Stock Down 1.0 %

Shares of PNR traded down $0.88 on Wednesday, hitting $89.40. The company's stock had a trading volume of 122,346 shares, compared to its average volume of 1,500,230. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.87 and a beta of 1.13. The firm's fifty day moving average price is $86.55 and its 200-day moving average price is $96.81. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Pentair's dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PNR. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. UBS Group lowered their target price on Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. KeyCorp reiterated a "sector weight" rating and issued a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Royal Bank of Canada upped their target price on shares of Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the stock a "neutral" rating in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Pentair currently has an average rating of "Moderate Buy" and an average target price of $106.93.

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.