Wellington Management Group LLP Has $16.03 Million Stock Holdings in Pentair plc (NYSE:PNR)

Wellington Management Group LLP decreased its position in shares of Pentair plc (NYSE:PNR) by 0.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 163,915 shares of the industrial products company’s stock after selling 1,359 shares during the quarter. Wellington Management Group LLP’s holdings in Pentair were worth $16,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in Pentair by 8.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,755 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 204 shares in the last quarter. Raymond James & Associates raised its position in shares of Pentair by 4.6% in the second quarter. Raymond James & Associates now owns 70,833 shares of the industrial products company’s stock valued at $5,431,000 after buying an additional 3,135 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Pentair by 3.8% in the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after buying an additional 129 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of Pentair by 244.7% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 37,476 shares of the industrial products company’s stock valued at $2,873,000 after buying an additional 26,604 shares during the period. Finally, Retirement Systems of Alabama grew its position in Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of PNR stock opened at $107.16 on Friday. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.95 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $103.23 and its 200-day moving average price is $90.83. Pentair plc has a 12 month low of $68.08 and a 12 month high of $110.71.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 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 business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period last year, the company earned $0.94 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.28 EPS for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.86%. Pentair’s dividend payout ratio is 23.00%.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PNR has been the subject of several analyst reports. UBS Group lifted their price objective on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Mizuho boosted their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. TD Cowen increased their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

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.