Y Intercept Hong Kong Ltd Takes $2.16 Million Position in Pentair plc (NYSE:PNR)

Y Intercept Hong Kong Ltd purchased a new stake in Pentair plc (NYSE:PNR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 24,736 shares of the industrial products company's stock, valued at approximately $2,164,000.

A number of other large investors have also recently added to or reduced their stakes in PNR. Assenagon Asset Management S.A. lifted its stake in Pentair by 229.1% in the first quarter. Assenagon Asset Management S.A. now owns 786,362 shares of the industrial products company's stock valued at $68,791,000 after acquiring an additional 547,419 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Pentair by 27.9% during the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock worth $197,482,000 after buying an additional 428,184 shares during the period. FMR LLC boosted its holdings in shares of Pentair by 7.0% during the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock worth $614,030,000 after buying an additional 396,581 shares during the period. Norges Bank bought a new stake in shares of Pentair during the 4th quarter worth about $36,568,000. Finally, Bessemer Group Inc. raised its holdings in Pentair by 37.0% in the 4th quarter. Bessemer Group Inc. now owns 1,283,164 shares of the industrial products company's stock valued at $129,137,000 after acquiring an additional 346,843 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PNR shares. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the company a "neutral" rating in a report on Tuesday, April 22nd. Barclays boosted their price target on Pentair from $116.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada boosted their price target on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Robert W. Baird boosted their price target on Pentair from $107.00 to $121.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, TD Cowen downgraded Pentair from a "buy" rating to a "hold" rating and reduced their price target for the company from $115.00 to $110.00 in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $115.46.

Insider Activity

In related news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction that occurred 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 sale, the director directly owned 26,313 shares of the company's stock, valued at approximately $2,366,591.22. The trade was a 19.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

Pentair Price Performance

PNR stock traded up $0.35 during mid-day trading on Friday, hitting $103.20. The stock had a trading volume of 1,666,946 shares, compared to its average volume of 1,876,259. The company has a current ratio of 1.45, a quick ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $16.92 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.98 and a beta of 1.09. The firm has a fifty day simple moving average of $101.60 and a 200 day simple moving average of $95.46. Pentair plc has a 52 week low of $74.25 and a 52 week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. As a group, research analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, July 18th. Pentair's dividend payout ratio (DPR) is presently 27.32%.

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.