Man Group plc lifted its stake in Pentair plc (NYSE:PNR - Free Report) by 72.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,875 shares of the industrial products company's stock after purchasing an additional 76,564 shares during the period. Man Group plc owned about 0.11% of Pentair worth $18,304,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNR. Nomura Holdings Inc. raised its position in Pentair by 49.5% during the 4th quarter. Nomura Holdings Inc. now owns 22,762 shares of the industrial products company's stock worth $2,291,000 after buying an additional 7,532 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in Pentair by 20.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 6,886 shares of the industrial products company's stock valued at $693,000 after buying an additional 1,178 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Pentair by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,180,022 shares of the industrial products company's stock valued at $118,757,000 after buying an additional 64,008 shares during the period. Lighthouse Investment Partners LLC grew its position in Pentair by 46.4% in the 4th quarter. Lighthouse Investment Partners LLC now owns 222,600 shares of the industrial products company's stock valued at $22,402,000 after acquiring an additional 70,600 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Pentair by 3.0% during the fourth quarter. Janus Henderson Group PLC now owns 23,683 shares of the industrial products company's stock worth $2,383,000 after buying an additional 679 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.
Pentair Price Performance
NYSE:PNR traded down $1.04 during midday trading on Tuesday, hitting $99.78. The company had a trading volume of 1,048,878 shares, compared to its average volume of 1,507,199. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. The stock's fifty day moving average price is $87.87 and its 200-day moving average price is $96.43. The company has a market capitalization of $16.42 billion, a PE ratio of 26.68, a P/E/G ratio of 1.87 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.
Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.10. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same quarter in the previous year, the company earned $0.94 earnings per share. As a group, research analysts expect that Pentair plc will post 4.77 earnings per share for the current year.
Pentair Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 1.00%. Pentair's payout ratio is 25.84%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Citigroup cut their price target on Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group decreased their price target on Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Barclays raised their target price on Pentair from $110.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Northcoast Research upgraded Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Pentair presently has a consensus rating of "Buy" and an average target price of $107.14.
Get Our Latest Research Report on Pentair
Insider Activity
In other news, Director David A. /Wi Jones sold 6,558 shares of the company's stock in a transaction that occurred 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 now owns 26,313 shares of the company's stock, valued at approximately $2,366,591.22. This represents a 19.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.
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.
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