Calamos Advisors LLC Makes New $8.70 Million Investment in Pentair plc $PNR

Key Points

• Calamos Advisors opened a new Pentair position in the third quarter, buying 164,234 shares valued at about $8.7 million, or roughly 0.10% of the company.
• Pentair beat quarterly earnings and revenue estimates, reporting EPS of $1.18 versus $1.07 expected and revenue of $976.4 million; revenue was down 4.5% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $76.59. Pentair’s quarterly dividend was $0.27 per share, equivalent to a 1.6% yield at the reported share price.

Calamos Advisors LLC acquired a new position in shares of Pentair plc (NYSE:PNR - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 164,234 shares of the industrial products company's stock, valued at approximately $8,703,000. Calamos Advisors LLC owned about 0.10% of Pentair at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNR. Hilltop National Bank acquired a new stake in Pentair in the second quarter valued at $47,000. Next Level Wealth Planning LLC acquired a new position in shares of Pentair during the 3rd quarter worth about $37,000. Covestor Ltd acquired a new position in shares of Pentair during the 3rd quarter worth about $39,000. Livelsberger Financial Advisory acquired a new position in shares of Pentair during the 3rd quarter worth about $40,000. Finally, Hoese & Co LLP purchased a new position in shares of Pentair in the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PNR shares. Jefferies Financial Group upgraded Pentair to a "strong-buy" rating in a research note on Wednesday, October 7th. Weiss Ratings lowered shares of Pentair from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, October 28th. Robert W. Baird set a $78.00 price target on shares of Pentair in a research note on Wednesday, October 28th. Oppenheimer cut their price objective on shares of Pentair from $94.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, October 21st. Finally, UBS Group set a $65.00 price objective on shares of Pentair in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $76.59.

Pentair Stock Down 2.4%

PNR opened at $68.11 on Friday. The business's 50-day simple moving average is $57.45 and its 200-day simple moving average is $75.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.47. Pentair plc has a one year low of $51.13 and a one year high of $109.89. The stock has a market capitalization of $10.87 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.60 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.11. The firm had revenue of $976.40 million during the quarter, compared to analysts' expectations of $963.71 million. Pentair had a return on equity of 20.10% and a net margin of 15.44%. The business's revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. Analysts anticipate that Pentair plc will post 4.70 EPS for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, October 23rd. Pentair's dividend payout ratio is presently 28.65%.

Pentair Profile

Pentair plc is a water solutions company that develops and supplies products and services for managing, treating and moving water. Its offerings include water filtration and treatment systems, pumps, valves and related equipment for residential, commercial, industrial and agricultural customers.

The company also serves the pool and spa market, providing equipment and systems such as pumps, filters, heaters and water-care products. Pentair serves customers in markets around the world.

Founded in 1966, Pentair has evolved from its origins as a diversified manufacturer into a company focused on water-related businesses.

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