Pentair plc (NYSE:PNR) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its position in shares of Pentair plc (NYSE:PNR - Free Report) by 308.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321,620 shares of the industrial products company's stock after acquiring an additional 242,973 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.19% of Pentair worth $32,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Pentair by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company's stock valued at $2,034,575,000 after buying an additional 148,031 shares during the last quarter. FMR LLC lifted its position in Pentair by 7.0% in the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock valued at $614,030,000 after buying an additional 396,581 shares during the last quarter. Geode Capital Management LLC lifted its position in Pentair by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company's stock valued at $410,240,000 after buying an additional 87,244 shares during the last quarter. Northern Trust Corp lifted its position in Pentair by 27.9% in the fourth quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock valued at $197,482,000 after buying an additional 428,184 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Pentair by 3.7% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,749,965 shares of the industrial products company's stock valued at $176,117,000 after buying an additional 62,926 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Stock Down 1.0%

Pentair stock traded down $1.04 during mid-day 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. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.87 and a beta of 1.11. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $87.87 and a 200 day moving average of $96.43.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 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 analyst estimates of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period in the prior year, the firm posted $0.94 earnings per share. On average, sell-side analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's payout ratio is currently 25.84%.

Insider Activity

In other news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,366,591.22. This represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PNR shares. StockNews.com raised shares of Pentair from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Mizuho set a $100.00 price target on shares of Pentair in a research report on Tuesday, April 22nd. Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Stifel Nicolaus reduced their price target on shares of Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised shares of Pentair from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $90.00 to $113.00 in a research report on Friday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Pentair has an average rating of "Buy" and an average target price of $107.14.

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.