Pentair plc (NYSE:PNR) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in shares of Pentair plc (NYSE:PNR) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,147 shares of the industrial products company’s stock after purchasing an additional 700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Pentair were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after buying an additional 996,325 shares in the last quarter. Interval Partners LP grew its stake in Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after acquiring an additional 710,703 shares during the period. FMR LLC grew its stake in Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after acquiring an additional 258,134 shares during the period. AQR Capital Management LLC raised its holdings in Pentair by 44.7% in the 2nd quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock valued at $51,589,000 after acquiring an additional 207,830 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after purchasing an additional 205,000 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the 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 approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. KeyCorp upped their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen raised their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays upped their price target on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and an average target price of $107.13.

Pentair Price Performance

PNR stock opened at $108.11 on Friday. The stock has a 50-day simple moving average of $102.04 and a 200-day simple moving average of $89.92. The firm has a market cap of $17.86 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 1 year low of $66.18 and a 1 year high of $110.71.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $988.53 million. During the same quarter last year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. Pentair’s payout ratio is currently 23.00%.

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.