Pentair plc (NYSE:PNR) Stock Holdings Lifted by MML Investors Services LLC

MML Investors Services LLC lifted its stake in shares of Pentair plc (NYSE:PNR) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,281 shares of the industrial products company’s stock after acquiring an additional 213 shares during the quarter. MML Investors Services LLC’s holdings in Pentair were worth $712,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates increased 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 worth $5,431,000 after acquiring an additional 3,135 shares in the last quarter. Fifth Third Bancorp lifted its holdings 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 purchasing an additional 129 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Pentair by 0.4% in 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 during the period. State of Michigan Retirement System grew its holdings in shares of Pentair by 0.4% during the second quarter. State of Michigan Retirement System now owns 45,464 shares of the industrial products company’s stock valued at $3,486,000 after buying an additional 200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Pentair by 1.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after buying an additional 121 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNR has been the subject of a number of research reports. UBS Group raised their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Pentair from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Oppenheimer increased their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research assumed coverage on Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

Pentair Stock Performance

NYSE:PNR opened at $101.95 on Friday. The firm has a market capitalization of $16.85 billion, a PE ratio of 25.49, a PEG ratio of 1.91 and a beta of 1.20. Pentair plc has a 1 year low of $68.08 and a 1 year high of $110.71. 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 firm’s fifty day simple moving average is $103.92 and its 200 day simple moving average is $91.58.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company 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 business posted $0.94 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Pentair plc will post 4.28 EPS for the current year.

Pentair Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio (DPR) is presently 25.00%.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.