Allianz Asset Management GmbH Has $79.37 Million Stake in Pentair plc (NYSE:PNR)

Allianz Asset Management GmbH grew its holdings in Pentair plc (NYSE:PNR - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 907,314 shares of the industrial products company's stock after purchasing an additional 19,102 shares during the period. Allianz Asset Management GmbH owned about 0.55% of Pentair worth $79,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Pentair in the fourth quarter valued at approximately $36,568,000. Asset Management One Co. Ltd. raised its position in Pentair by 4.8% during the first quarter. Asset Management One Co. Ltd. now owns 75,337 shares of the industrial products company's stock worth $6,590,000 after acquiring an additional 3,476 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Pentair by 31.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,453 shares of the industrial products company's stock worth $390,000 after acquiring an additional 1,067 shares in the last quarter. Fifth Third Bancorp raised its position in Pentair by 6.6% during the first quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock worth $356,000 after acquiring an additional 253 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Pentair during the fourth quarter worth $55,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNR has been the topic of several analyst reports. Royal Bank Of Canada upped their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Stifel Nicolaus upped their price target on shares of Pentair from $104.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the stock a "neutral" rating in a research report on Tuesday, April 22nd. Citigroup reissued a "buy" rating and issued a $125.00 price objective (up from $99.00) on shares of Pentair in a research report on Monday, July 14th. Finally, Robert W. Baird increased their price objective on shares of Pentair from $107.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday. Three 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $115.46.

Pentair Stock Performance

Shares of PNR stock traded up $0.48 on Friday, hitting $103.33. The company's stock had a trading volume of 246,288 shares, compared to its average volume of 1,550,454. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.22 and a current ratio of 1.45. The stock's 50 day moving average is $101.56 and its 200-day moving average is $95.45. Pentair plc has a fifty-two week low of $74.25 and a fifty-two week high of $110.71. The company has a market capitalization of $16.94 billion, a PE ratio of 28.23, a PEG ratio of 1.97 and a beta of 1.09.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company posted $1.22 earnings per share. Pentair's revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. Pentair's payout ratio is 25.84%.

Insider Transactions at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the sale, the director directly owned 26,313 shares in the company, valued at $2,366,591.22. This represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.