Perpetual Ltd boosted its stake in Pentair plc (NYSE:PNR - Free Report) by 12.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150,797 shares of the industrial products company's stock after buying an additional 16,557 shares during the quarter. Perpetual Ltd owned approximately 0.09% of Pentair worth $13,192,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Pentair by 55.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock worth $81,000 after buying an additional 287 shares in the last quarter. Norges Bank acquired a new stake in Pentair during the fourth quarter worth approximately $36,568,000. Atria Wealth Solutions Inc. grew its stake in Pentair by 91.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,150 shares of the industrial products company's stock worth $418,000 after acquiring an additional 1,986 shares during the period. Fifth Third Bancorp raised its holdings in Pentair by 6.6% in the 1st quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock valued at $356,000 after acquiring an additional 253 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Pentair by 0.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 32,225 shares of the industrial products company's stock worth $3,243,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on PNR. Wall Street Zen raised Pentair from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Citigroup lowered their price target on 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. Stifel Nicolaus lowered their target price on shares of Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Baird R W raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Pentair presently has a consensus rating of "Buy" and an average price target of $107.14.
Check Out Our Latest Research Report on PNR
Pentair Stock Performance
NYSE:PNR opened at $103.60 on Friday. Pentair plc has a twelve month low of $73.45 and a twelve month high of $110.71. The firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.96 and a beta of 1.10. The company has a current ratio of 1.89, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The firm's fifty day simple moving average is $96.32 and its 200 day simple moving average is $95.10.
Pentair (NYSE:PNR - Get Free Report) last issued its earnings results 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 return on equity of 21.24% and a net margin of 15.87%. 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 business earned $0.94 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, July 18th. Pentair's payout ratio is 25.84%.
Insider Buying and Selling
In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director now directly owns 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 link. 1.10% of the stock is currently owned by insiders.
About Pentair
(
Free Report)
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.
Further Reading
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