MBB Public Markets I LLC Takes $859,000 Position in Pentair plc (NYSE:PNR)

MBB Public Markets I LLC bought a new position in shares of Pentair plc (NYSE:PNR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,200 shares of the industrial products company’s stock, valued at approximately $859,000.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 121 shares during the period. Wedmont Private Capital increased its position in Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares during the last quarter. Fifth Third Bancorp raised its stake in Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Pentair by 4.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock valued at $304,000 after buying an additional 140 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Trading Down 1.0 %

NYSE:PNR opened at $96.81 on Wednesday. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. Pentair plc has a one year low of $57.18 and a one year high of $98.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The business’s 50-day simple moving average is $87.97 and its 200 day simple moving average is $83.04.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the business posted $1.03 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is currently 24.47%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNR. Barclays lifted their target price on Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. KeyCorp lifted their price objective on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.87.

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.