The Manufacturers Life Insurance Company Lowers Holdings in Pentair plc (NYSE:PNR)

The Manufacturers Life Insurance Company reduced its stake in Pentair plc (NYSE:PNR) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,282 shares of the industrial products company’s stock after selling 917 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Pentair worth $9,512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PNR. Cetera Investment Advisers grew its position in Pentair by 222.8% during the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after purchasing an additional 34,959 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Pentair by 64.3% during the first quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company’s stock valued at $593,000 after acquiring an additional 2,718 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Pentair by 19.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,046 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its position in Pentair by 187.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,765 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 1,804 shares in the last quarter. Finally, CWM LLC boosted its stake in Pentair by 88.2% during the 2nd quarter. CWM LLC now owns 5,414 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 2,538 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target on the stock. Barclays increased their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Mizuho increased their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

Pentair Price Performance

Shares of NYSE:PNR opened at $108.82 on Wednesday. The company has a market capitalization of $17.98 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.94 and a beta of 1.20. Pentair plc has a 1-year low of $65.31 and a 1-year high of $110.71. The firm’s 50 day simple moving average is $101.11 and its two-hundred day simple moving average is $89.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

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

Pentair Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Insider Buying and Selling

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 value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.28% of the stock is currently owned by company insiders.

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.