19,995 Shares in Pentair plc $PNR Purchased by Outfitters Financial LLC

Key Points

• Outfitters Financial LLC initiated a Pentair position by purchasing 19,995 shares valued at approximately $1.06 million. Institutional investors collectively own 92.37% of Pentair’s outstanding stock.
• Pentair shares traded at $55.30, near the lower end of their 52-week range of $51.13 to $111.94. The company’s latest quarterly results exceeded earnings expectations, but revenue fell 17% year over year.
• Pentair declared a quarterly dividend of $0.27, equivalent to a 2.0% annualized yield. Analysts have broadly lowered price targets, with the stock carrying a consensus “Hold” rating and an average target of $76.19.

Outfitters Financial LLC acquired a new position in Pentair plc (NYSE:PNR - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,995 shares of the industrial products company's stock, valued at approximately $1,060,000.

Several other large investors have also added to or reduced their stakes in PNR. Amundi grew its position in Pentair by 13.1% in the first quarter. Amundi now owns 4,237,659 shares of the industrial products company's stock valued at $369,208,000 after purchasing an additional 491,758 shares in the last quarter. Hsbc Holdings PLC increased its stake in Pentair by 1,459.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company's stock valued at $110,617,000 after buying an additional 1,189,122 shares during the last quarter. First Trust Advisors LP lifted its position in Pentair by 52.9% during the 1st quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company's stock worth $105,844,000 after buying an additional 420,140 shares in the last quarter. Vest Financial LLC bought a new stake in Pentair during the 3rd quarter worth about $41,204,000. Finally, California Public Employees Retirement System boosted its stake in shares of Pentair by 57.2% during the 1st quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company's stock worth $43,840,000 after buying an additional 183,089 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Stock Performance

NYSE:PNR traded down $0.14 during mid-day trading on Friday, hitting $55.30. The stock had a trading volume of 3,035,261 shares, compared to its average volume of 2,561,704. Pentair plc has a twelve month low of $51.13 and a twelve month high of $111.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 1.45. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.42 and a beta of 1.04. The company's 50 day simple moving average is $56.82 and its 200 day simple moving average is $68.76.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.02. The firm had revenue of $932.60 million for the quarter, compared to the consensus estimate of $943.24 million. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The business's revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. On average, equities research analysts forecast that Pentair plc will post 4.63 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, October 23rd. Pentair's dividend payout ratio is 27.14%.

Analyst Ratings Changes

PNR has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on Pentair from $73.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, October 9th. TD Cowen upgraded Pentair from a "sell" rating to a "hold" rating and dropped their target price for the stock from $65.00 to $55.00 in a report on Wednesday, October 14th. Mizuho reduced their price target on Pentair from $85.00 to $65.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. Oppenheimer decreased their price target on Pentair from $94.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, BNP Paribas Exane reaffirmed an "underperform" rating and set a $64.00 price target (down from $75.00) on shares of Pentair in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $76.19.

About Pentair

Pentair plc NYSE: PNR is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.

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