Mackenzie Financial Corp Boosts Stake in Pentair plc (NYSE:PNR)

Mackenzie Financial Corp raised its position in Pentair plc (NYSE:PNR - Free Report) by 203.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,787 shares of the industrial products company's stock after purchasing an additional 11,248 shares during the quarter. Mackenzie Financial Corp's holdings in Pentair were worth $1,689,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company's stock worth $2,034,575,000 after acquiring an additional 148,031 shares during the period. FMR LLC boosted its holdings in shares of Pentair by 7.0% in the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock valued at $614,030,000 after purchasing an additional 396,581 shares during the period. Geode Capital Management LLC grew its stake in Pentair by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company's stock worth $410,240,000 after purchasing an additional 87,244 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pentair by 6.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,468,651 shares of the industrial products company's stock worth $349,085,000 after purchasing an additional 217,867 shares during the period. Finally, Northern Trust Corp raised its position in Pentair by 27.9% during the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock valued at $197,482,000 after purchasing an additional 428,184 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

Pentair Stock Performance

NYSE:PNR traded up $0.98 during trading hours on Tuesday, reaching $99.49. 455,716 shares of the company's stock were exchanged, compared to its average volume of 1,501,937. 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 $16.37 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 1.87 and a beta of 1.10. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The company has a 50-day moving average of $89.94 and a 200 day moving average of $96.04.

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

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Pentair's payout ratio is 25.84%.

Insider Buying and Selling at Pentair

In other news, Director David A. /Wi Jones sold 6,558 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total value of $589,826.52. Following the completion of the transaction, the director now owns 26,313 shares of the company's stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PNR shares. Citigroup reduced their price target on shares of Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a report on Monday, April 14th. UBS Group cut their price objective on shares of Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, Barclays boosted their price target on Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Pentair currently has a consensus rating of "Buy" and a consensus target price of $107.14.

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.