Vest Financial LLC Buys 777,578 Shares of Pentair plc $PNR

Key Points

• Vest Financial LLC acquired 777,578 Pentair shares worth approximately $41.2 million during the third quarter, giving it about a 0.49% stake. Institutional investors collectively own 92.37% of Pentair.
• Analyst sentiment is mixed, with Pentair carrying an average “Hold” rating and a consensus price target of $76.19; recent target changes ranged from $60 to $91.
• Pentair’s shares opened at $52.85, near their 52-week low, while the company reported quarterly revenue down 17% year over year despite slightly beating EPS estimates. Pentair also declared a $0.27 quarterly dividend, representing a 2.0% yield.

Vest Financial LLC purchased a new stake in Pentair plc (NYSE:PNR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 777,578 shares of the industrial products company's stock, valued at approximately $41,204,000. Vest Financial LLC owned approximately 0.49% of Pentair as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PNR. Hsbc Holdings PLC grew its holdings in Pentair by 1,459.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company's stock worth $110,617,000 after acquiring an additional 1,189,122 shares during the last quarter. Amundi lifted its position in shares of Pentair by 13.1% during the first quarter. Amundi now owns 4,237,659 shares of the industrial products company's stock worth $369,208,000 after purchasing an additional 491,758 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Pentair by 52.9% during the first quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company's stock worth $105,844,000 after purchasing an additional 420,140 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Pentair during the first quarter valued at approximately $28,717,000. Finally, California Public Employees Retirement System grew its stake in shares of Pentair by 57.2% during the first quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company's stock valued at $43,840,000 after purchasing an additional 183,089 shares during the last quarter. 92.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNR. Weiss Ratings cut Pentair from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, October 13th. The Goldman Sachs Group dropped their target price on Pentair from $73.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, October 9th. Wolfe Research raised Pentair from a "peer perform" rating to an "outperform" rating and set a $91.00 price target on the stock in a research note on Tuesday, September 15th. BNP Paribas Exane reiterated an "underperform" rating and issued a $64.00 price target (down from $75.00) on shares of Pentair in a report on Thursday, July 16th. Finally, Oppenheimer decreased their price target on Pentair from $94.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Pentair has an average rating of "Hold" and an average price target of $76.19.

Pentair Stock Down 0.1%

PNR stock opened at $52.85 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.45 and a quick ratio of 0.76. The stock has a market capitalization of $8.44 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.35 and a beta of 1.04. Pentair plc has a fifty-two week low of $51.13 and a fifty-two week high of $111.94. The business has a 50-day moving average of $57.26 and a 200-day moving average of $69.07.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. Pentair had a net margin of 16.24% and a return on equity of 20.62%. The firm had revenue of $932.60 million for the quarter, compared to analysts' expectations of $943.24 million. During the same period in the previous year, the firm posted $1.39 EPS. The company's revenue for the quarter was down 17.0% on a year-over-year basis. On average, sell-side analysts anticipate that Pentair plc will post 4.64 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Pentair's dividend payout ratio is presently 27.14%.

Pentair Company Profile

Pentair plc NYSE: PNR is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.

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