Impax Asset Management Group plc Has $433.82 Million Position in Pentair plc (NYSE:PNR)

Impax Asset Management Group plc trimmed its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,969,006 shares of the industrial products company's stock after selling 92,713 shares during the quarter. Pentair accounts for about 2.6% of Impax Asset Management Group plc's portfolio, making the stock its 5th largest position. Impax Asset Management Group plc owned 3.02% of Pentair worth $433,818,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Parvin Asset Management LLC bought a new stake in shares of Pentair in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Pentair in the 1st quarter valued at $28,000. NBC Securities Inc. bought a new stake in shares of Pentair in the 1st quarter valued at $33,000. Colonial Trust Co SC boosted its stake in shares of Pentair by 230.8% in the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 240 shares during the last quarter. Finally, Horizon Financial Services LLC acquired a new position in shares of Pentair during the 1st quarter valued at $38,000. 92.37% of the stock is owned by institutional investors.

Insider Activity

In other news, Director David A. /Wi Jones sold 6,558 shares of the company's stock in a transaction 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 sale, the director owned 26,313 shares in the company, valued at $2,366,591.22. This represents a 19.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Pentair Stock Up 1.0%

PNR traded up $1.01 during trading on Friday, hitting $106.87. 1,008,548 shares of the company's stock were exchanged, compared to its average volume of 1,465,963. The company has a quick ratio of 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $98.20 and its two-hundred day moving average is $94.98. Pentair plc has a fifty-two week low of $74.25 and a fifty-two week high of $110.71. The stock has a market cap of $17.58 billion, a P/E ratio of 27.62, a PEG ratio of 2.06 and a beta of 1.09.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a net margin of 15.87% and a return on equity of 21.24%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders 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 annualized dividend and a dividend yield of 0.94%. Pentair's payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNR. Mizuho set a $100.00 target price on shares of Pentair in a research report on Tuesday, April 22nd. UBS Group dropped their target price on shares of Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded shares of Pentair from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $90.00 to $113.00 in a research report on Friday, May 16th. Baird R W upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. Finally, Citigroup dropped their target price on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $107.14.

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.