First Trust Direct Indexing L.P. Purchases 205 Shares of Pentair plc (NYSE:PNR)

First Trust Direct Indexing L.P. grew its position in Pentair plc (NYSE:PNR) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,332 shares of the industrial products company’s stock after purchasing an additional 205 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Pentair were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Pentair by 1.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 451,655 shares of the industrial products company’s stock valued at $38,589,000 after purchasing an additional 4,861 shares during the period. BNP Paribas Financial Markets raised its position in shares of Pentair by 144.7% during the first quarter. BNP Paribas Financial Markets now owns 266,288 shares of the industrial products company’s stock valued at $22,752,000 after buying an additional 157,466 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Pentair by 3.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,049 shares of the industrial products company’s stock worth $517,000 after buying an additional 178 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Pentair during the first quarter worth $254,000. Finally, Nordea Investment Management AB grew its stake in Pentair by 3.4% during the first quarter. Nordea Investment Management AB now owns 72,832 shares of the industrial products company’s stock valued at $6,237,000 after acquiring an additional 2,408 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Trading Down 0.7 %

PNR opened at $98.47 on Monday. Pentair plc has a one year low of $59.61 and a one year high of $101.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.77 and a beta of 1.19. The stock’s 50 day moving average price is $94.22 and its 200-day moving average price is $85.57.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. On average, equities analysts forecast that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Wall Street Analysts Forecast Growth

PNR has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, KeyCorp upped their price target on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $104.80.

Pentair 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.