Bfsg LLC Makes New Investment in Pentair plc $PNR

Key Points

• Bfsg LLC opened a new Pentair position, buying 67,240 shares worth about $3.56 million in the third quarter. Institutional investors collectively own 92.37% of the company’s stock.
• Pentair beat quarterly earnings and revenue expectations, reporting $1.18 per share and $976.4 million in revenue, though revenue fell 4.5% year over year.
• The company declared a quarterly dividend of $0.27 per share, equal to a 1.5% annualized yield. Analysts’ consensus rating was “Hold,” with an average price target of $76.59.

Bfsg LLC acquired a new stake in Pentair plc (NYSE:PNR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,240 shares of the industrial products company's stock, valued at approximately $3,563,000.

Other institutional investors also recently made changes to their positions in the company. Chicago Partners Investment Group LLC grew its holdings in Pentair by 24.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,695 shares of the industrial products company's stock valued at $426,000 after buying an additional 1,505 shares during the last quarter. Covestor Ltd purchased a new position in Pentair during the third quarter worth approximately $39,000. Rakuten Investment Management Inc. acquired a new position in Pentair in the third quarter valued at $977,000. Prescott Group Capital Management L.L.C. purchased a new position in Pentair in the third quarter valued at approximately $887,000. Finally, Mountain Pacific Investment Advisers LLC purchased a new stake in Pentair during the 3rd quarter worth $1,505,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Price Performance

Shares of NYSE PNR opened at $72.13 on Thursday. Pentair plc has a 1-year low of $51.13 and a 1-year high of $109.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 0.77. The business's fifty day moving average price is $57.20 and its two-hundred day moving average price is $75.94. The firm has a market capitalization of $11.52 billion, a PE ratio of 19.13, a P/E/G ratio of 1.64 and a beta of 1.01.

Pentair (NYSE:PNR - Get Free Report) last announced its earnings results on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. The firm had revenue of $976.40 million for the quarter, compared to the consensus estimate of $963.71 million. Pentair had a return on equity of 20.10% and a net margin of 15.44%. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. On average, research analysts expect that Pentair plc will post 4.70 EPS for the current year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be given a $0.27 dividend. The ex-dividend date is Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. Pentair's dividend payout ratio is presently 28.65%.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Pentair to a "strong-buy" rating in a research report on Wednesday, October 7th. Wolfe Research raised shares of Pentair from a "peer perform" rating to an "outperform" rating and set a $91.00 price target for the company in a report on Tuesday, September 15th. The Goldman Sachs Group set a $66.00 price target on shares of Pentair in a research note on Wednesday, October 28th. Weiss Ratings cut shares of Pentair from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, October 28th. Finally, Zacks Research upgraded Pentair from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $76.59.

Pentair Profile

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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