US Bancorp DE reduced its position in Pentair PLC (NYSE:PNR) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 698,753 shares of the industrial products company’s stock after selling 54,118 shares during the period. US Bancorp DE owned approximately 0.40% of Pentair worth $30,290,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of PNR. Perella Weinberg Partners Capital Management LP purchased a new stake in Pentair in the 3rd quarter valued at $484,000. Robeco Institutional Asset Management B.V. raised its position in Pentair by 96.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 507,553 shares of the industrial products company’s stock valued at $22,003,000 after buying an additional 248,705 shares during the last quarter. Robecosam AG raised its position in Pentair by 93.0% in the 3rd quarter. Robecosam AG now owns 361,022 shares of the industrial products company’s stock valued at $15,697,000 after buying an additional 173,947 shares during the last quarter. Arizona State Retirement System raised its position in Pentair by 2.1% in the 3rd quarter. Arizona State Retirement System now owns 101,965 shares of the industrial products company’s stock valued at $4,420,000 after buying an additional 2,081 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Pentair by 277.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 106,235 shares of the industrial products company’s stock valued at $4,605,000 after buying an additional 78,116 shares during the last quarter. Institutional investors own 87.55% of the company’s stock.
In related news, Director Glynis Bryan sold 17,133 shares of Pentair stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $770,985.00. Following the completion of the sale, the director now owns 35,115 shares of the company’s stock, valued at approximately $1,580,175. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of Pentair stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $42.15, for a total value of $71,655,000.00. Following the completion of the sale, the director now directly owns 2,862 shares of the company’s stock, valued at approximately $120,633.30. The disclosure for this sale can be found here. Company insiders own 10.70% of the company’s stock.
PNR has been the subject of a number of analyst reports. Zacks Investment Research lowered Pentair from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Stifel Nicolaus increased their price target on Pentair from $44.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, October 8th. ValuEngine lowered Pentair from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 17th. Royal Bank of Canada reissued a “hold” rating and issued a $48.00 price target on shares of Pentair in a research report on Friday, July 13th. Finally, JPMorgan Chase & Co. increased their price target on Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $56.08.
Shares of Pentair stock opened at $41.63 on Monday. Pentair PLC has a 1 year low of $36.06 and a 1 year high of $50.25. The firm has a market cap of $7.23 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30. The company has a quick ratio of 0.85, a current ratio of 1.40 and a debt-to-equity ratio of 0.42.
Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Pentair had a return on equity of 16.35% and a net margin of 11.04%. The firm had revenue of $711.40 million during the quarter, compared to analyst estimates of $698.88 million. During the same period last year, the firm posted $0.95 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Pentair PLC will post 2.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Friday, October 19th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, October 18th. Pentair’s dividend payout ratio is presently 19.83%.
Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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