Pentair plc (NYSE:PNR) Stock Position Raised by Nordea Investment Management AB

Nordea Investment Management AB increased its position in Pentair plc (NYSE:PNR) by 69.7% in the fourth quarter, HoldingsChannel reports. The firm owned 236,502 shares of the industrial products company’s stock after acquiring an additional 97,172 shares during the period. Nordea Investment Management AB’s holdings in Pentair were worth $23,835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Blue Trust Inc. increased its stake in Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after buying an additional 327 shares during the period. True Wealth Design LLC lifted its position in Pentair by 4,450.0% in the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after buying an additional 623 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pentair during the 2nd quarter valued at $67,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Pentair by 59.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 705 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 262 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

PNR has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on Pentair from $115.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Oppenheimer lifted their price target on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Wolfe Research initiated coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $109.38.

Pentair Price Performance

NYSE PNR opened at $99.41 on Thursday. The stock has a 50-day simple moving average of $104.41 and a 200 day simple moving average of $93.66. Pentair plc has a twelve month low of $68.69 and a twelve month high of $110.71. The stock has a market capitalization of $16.43 billion, a PE ratio of 24.85, a P/E/G ratio of 1.91 and a beta of 1.21. 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 (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Research analysts anticipate that Pentair plc will post 4.28 EPS for the current year.

Pentair Increases Dividend

The business 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 is an increase from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Pentair’s payout ratio is presently 25.00%.

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.