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Gates Capital Management Inc. Has $112.09 Million Holdings in Pentair plc (NYSE:PNR)

Pentair logo with Industrial Products background

Gates Capital Management Inc. lowered its position in shares of Pentair plc (NYSE:PNR - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,541,553 shares of the industrial products company's stock after selling 470,324 shares during the quarter. Pentair makes up approximately 2.6% of Gates Capital Management Inc.'s holdings, making the stock its 11th biggest holding. Gates Capital Management Inc. owned approximately 0.93% of Pentair worth $112,086,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PNR. Lindbrook Capital LLC raised its stake in Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company's stock worth $25,000 after purchasing an additional 154 shares during the period. Quent Capital LLC raised its stake in Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company's stock worth $29,000 after purchasing an additional 213 shares during the period. Operose Advisors LLC purchased a new position in Pentair during the third quarter worth approximately $34,000. Rational Advisors LLC purchased a new position in Pentair during the third quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its stake in Pentair by 24.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company's stock worth $64,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.

Insider Activity

In other news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the transaction, the chief executive officer now directly owns 38,538 shares of the company's stock, valued at approximately $3,254,534.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company's stock.


Pentair Stock Down 1.4 %

PNR stock traded down $1.09 during mid-day trading on Thursday, hitting $78.90. 780,864 shares of the company were exchanged, compared to its average volume of 1,523,928. The company has a market capitalization of $13.10 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Pentair plc has a twelve month low of $57.18 and a twelve month high of $85.84. The firm has a fifty day simple moving average of $81.05 and a 200 day simple moving average of $76.58.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. On average, research analysts forecast that Pentair plc will post 4.24 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, July 19th. Pentair's dividend payout ratio (DPR) is presently 24.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Mizuho increased their price target on shares of Pentair from $82.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, March 7th. Royal Bank of Canada raised their target price on shares of Pentair from $101.00 to $103.00 and gave the company an "outperform" rating in a research note on Wednesday, April 24th. UBS Group raised their target price on shares of Pentair from $83.00 to $91.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. BNP Paribas began coverage on shares of Pentair in a research note on Tuesday, March 12th. They issued a "neutral" rating and a $86.00 target price on the stock. Finally, TD Cowen raised their target price on shares of Pentair from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $89.93.

Get Our Latest Stock Analysis on Pentair

Pentair Profile

(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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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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