Advisors Asset Management Inc. Raises Position in Pentair PLC (PNR)

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Advisors Asset Management Inc. boosted its holdings in shares of Pentair PLC (NYSE:PNR) by 30.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,187 shares of the industrial products company’s stock after buying an additional 3,799 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pentair were worth $681,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Nomura Holdings Inc. increased its holdings in Pentair by 2.5% during the second quarter. Nomura Holdings Inc. now owns 299,143 shares of the industrial products company’s stock valued at $12,588,000 after buying an additional 7,426 shares during the period. Andra AP fonden increased its holdings in Pentair by 76.6% during the second quarter. Andra AP fonden now owns 106,300 shares of the industrial products company’s stock valued at $4,473,000 after buying an additional 46,100 shares during the period. Verition Fund Management LLC increased its holdings in Pentair by 324.5% during the second quarter. Verition Fund Management LLC now owns 23,403 shares of the industrial products company’s stock valued at $985,000 after buying an additional 17,890 shares during the period. California Public Employees Retirement System increased its holdings in Pentair by 23.3% during the second quarter. California Public Employees Retirement System now owns 512,595 shares of the industrial products company’s stock valued at $21,570,000 after buying an additional 96,942 shares during the period. Finally, Argent Trust Co purchased a new position in Pentair during the second quarter valued at approximately $820,000. 87.55% of the stock is currently owned by institutional investors.

In other Pentair news, Director Trian Fund Management, L.P. sold 1,700,000 shares of Pentair stock in a transaction on Monday, August 13th. The shares were sold at an average price of $42.15, for a total value of $71,655,000.00. Following the transaction, the director now directly owns 2,862 shares of the company’s stock, valued at $120,633.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glynis Bryan sold 17,133 shares of Pentair stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $770,985.00. Following the completion of the transaction, the director now directly owns 35,115 shares in the company, valued at $1,580,175. The disclosure for this sale can be found here. 10.70% of the stock is currently owned by insiders.

NYSE PNR opened at $41.85 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 1.40. Pentair PLC has a 12-month low of $36.06 and a 12-month high of $50.25. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.60 and a beta of 1.30.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Pentair had a net margin of 11.04% and a return on equity of 16.35%. The business had revenue of $711.40 million for the quarter, compared to analyst estimates of $698.88 million. During the same period in the previous year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts anticipate that Pentair PLC will post 2.33 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, October 18th. Pentair’s dividend payout ratio is currently 19.83%.

Several equities analysts recently issued reports on PNR shares. Zacks Investment Research lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Stifel Nicolaus lifted their price objective on shares of Pentair from $44.00 to $45.00 and gave the company a “hold” rating in a report on Monday, October 8th. ValuEngine lowered shares of Pentair from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. Royal Bank of Canada reissued a “hold” rating and set a $48.00 price objective on shares of Pentair in a report on Friday, July 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.08.

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Pentair Profile

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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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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