Swiss National Bank Buys 3,300 Shares of Pentair plc (NYSE:PNR)

Swiss National Bank boosted its stake in shares of Pentair plc (NYSE:PNR) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 492,787 shares of the industrial products company’s stock after purchasing an additional 3,300 shares during the period. Swiss National Bank’s holdings in Pentair were worth $48,190,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Claro Advisors LLC purchased a new stake in shares of Pentair in the third quarter worth $249,000. Natixis Advisors LLC boosted its stake in Pentair by 4.1% in the 3rd quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company’s stock worth $10,083,000 after purchasing an additional 4,074 shares in the last quarter. Mizuho Securities USA LLC grew its position in Pentair by 596.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 89,069 shares of the industrial products company’s stock valued at $8,710,000 after purchasing an additional 76,273 shares during the last quarter. CIBC Asset Management Inc increased its stake in Pentair by 9.3% during the 3rd quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company’s stock valued at $1,890,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Pentair by 8.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,530 shares of the industrial products company’s stock worth $639,000 after buying an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of PNR opened at $104.17 on Thursday. The business has a 50-day simple moving average of $98.77 and a two-hundred day simple moving average of $87.85. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a 52 week low of $62.23 and a 52 week high of $107.78. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.89 and a beta of 1.19.

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

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNR. Royal Bank of Canada boosted their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen increased their price objective on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, KeyCorp lifted their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pentair has an average rating of “Moderate Buy” and an average target price of $105.13.

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.