Point72 Asset Management L.P. Raises Stake in Pentair plc (NYSE:PNR)

Point72 Asset Management L.P. lifted its holdings in Pentair plc (NYSE:PNR - Free Report) by 308.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,620 shares of the industrial products company's stock after purchasing an additional 242,973 shares during the quarter. Point72 Asset Management L.P. owned about 0.19% of Pentair worth $32,368,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PNR. Polar Asset Management Partners Inc. raised its stake in Pentair by 125.1% in the 4th quarter. Polar Asset Management Partners Inc. now owns 196,700 shares of the industrial products company's stock worth $19,796,000 after acquiring an additional 109,300 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Pentair by 66.2% in the 4th quarter. Quantinno Capital Management LP now owns 32,068 shares of the industrial products company's stock worth $3,227,000 after buying an additional 12,771 shares during the period. Mufg Securities Americas Inc. purchased a new position in Pentair during the 4th quarter worth approximately $245,000. Man Group plc lifted its stake in Pentair by 72.7% during the 4th quarter. Man Group plc now owns 181,875 shares of the industrial products company's stock valued at $18,304,000 after acquiring an additional 76,564 shares during the period. Finally, Nomura Holdings Inc. boosted its holdings in shares of Pentair by 49.5% in the 4th quarter. Nomura Holdings Inc. now owns 22,762 shares of the industrial products company's stock valued at $2,291,000 after acquiring an additional 7,532 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Price Performance

Shares of Pentair stock traded up $0.16 on Thursday, reaching $97.49. The company's stock had a trading volume of 234,061 shares, compared to its average volume of 1,504,485. 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 plc has a 52-week low of $72.63 and a 52-week high of $110.71. The company has a market capitalization of $16.04 billion, a P/E ratio of 26.07, a PEG ratio of 1.87 and a beta of 1.11. The stock has a 50-day moving average price of $88.41 and a 200-day moving average price of $96.46.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $988.38 million. During the same period in the previous year, the business earned $0.94 earnings per share. Analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, July 18th. Pentair's payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNR. Stifel Nicolaus decreased their target price on shares of Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada upped their target price on Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Mizuho set a $100.00 price target on Pentair in a research report on Tuesday, April 22nd. Northcoast Research upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group set a $95.00 price target on Pentair and gave the company a "neutral" rating in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $107.14.

Insider Buying and Selling

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the company's stock in a transaction on Monday, April 28th. The stock was 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 directly owns 26,313 shares in the company, valued at $2,366,591.22. This represents a 19.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

About Pentair

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.