Tredje AP fonden Purchases New Shares in Pentair plc $PNR

Key Points

• Tredje AP fonden opened a new position in Pentair during the fourth quarter, buying 21,569 shares valued at about $2.25 million.
• Other institutional investors also increased their Pentair holdings, and hedge funds now own 92.37% of the company’s stock.
• Pentair recently reported better-than-expected quarterly earnings and announced a quarterly dividend of $0.27 per share, while analysts currently have a consensus rating of Hold.

Tredje AP fonden purchased a new stake in shares of Pentair plc (NYSE:PNR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,569 shares of the industrial products company's stock, valued at approximately $2,246,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PNR. Ameriprise Financial Inc. raised its holdings in Pentair by 106.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company's stock valued at $358,521,000 after buying an additional 1,670,944 shares during the period. Assenagon Asset Management S.A. raised its holdings in Pentair by 1,690.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company's stock valued at $75,987,000 after buying an additional 688,921 shares during the period. Nordea Investment Management AB raised its holdings in Pentair by 22.8% during the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company's stock valued at $366,787,000 after buying an additional 647,162 shares during the period. 140 Summer Partners LP purchased a new stake in Pentair during the 3rd quarter valued at $60,752,000. Finally, AQR Capital Management LLC raised its holdings in Pentair by 43.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,472,500 shares of the industrial products company's stock valued at $161,754,000 after buying an additional 442,534 shares during the period. Hedge funds and other institutional investors own 92.37% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on PNR shares. Weiss Ratings downgraded Pentair from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. TD Cowen cut their price objective on Pentair from $90.00 to $75.00 and set a "sell" rating on the stock in a research report on Wednesday, April 29th. Robert W. Baird set a $110.00 price objective on Pentair in a research report on Wednesday, April 29th. Stifel Nicolaus cut their price objective on Pentair from $110.00 to $103.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, Bank of America cut their price objective on Pentair from $100.00 to $88.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $107.86.

Pentair Stock Performance

Shares of Pentair stock opened at $74.12 on Thursday. The stock's fifty day moving average is $85.05 and its two-hundred day moving average is $96.97. The company has a market capitalization of $11.98 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.22 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. Pentair plc has a 52 week low of $70.73 and a 52 week high of $113.95.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 earnings per share. As a group, analysts expect that Pentair plc will post 5.36 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, July 24th. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. Pentair's dividend payout ratio (DPR) is currently 26.47%.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 6,493 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $103.22, for a total transaction of $670,207.46. Following the transaction, the executive vice president owned 29,096 shares in the company, valued at approximately $3,003,289.12. This trade represents a 18.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.26% of the company's stock.

Pentair Profile

Pentair plc NYSE: PNR is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair's offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.

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