Wells Fargo & Company MN raised its stake in Pentair PLC (NYSE:PNR) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,647,218 shares of the industrial products company’s stock after buying an additional 27,669 shares during the period. Wells Fargo & Company MN owned about 2.10% of Pentair worth $158,107,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Pentair by 215.0% during the 2nd quarter. Millennium Management LLC now owns 251,442 shares of the industrial products company’s stock valued at $10,581,000 after purchasing an additional 171,629 shares during the last quarter. Marshwinds Advisory Co. bought a new position in shares of Pentair during the 3rd quarter valued at $200,000. Great West Life Assurance Co. Can grew its holdings in shares of Pentair by 246.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 426,826 shares of the industrial products company’s stock valued at $17,993,000 after purchasing an additional 303,517 shares during the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Pentair by 15.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 222,765 shares of the industrial products company’s stock valued at $9,657,000 after purchasing an additional 29,934 shares during the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Pentair by 256.4% during the 2nd quarter. Korea Investment CORP now owns 36,002 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 25,900 shares during the last quarter. 87.55% of the stock is currently owned by hedge funds and other institutional investors.
In other Pentair news, Director Trian Fund Management, L.P. sold 1,700,000 shares of the firm’s 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 sale, the director now owns 2,862 shares of the company’s stock, valued at approximately $120,633.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Glynis Bryan sold 17,133 shares of the firm’s 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 sale, the director now directly owns 35,115 shares in the company, valued at approximately $1,580,175. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.
Shares of Pentair stock opened at $42.53 on Friday. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.65 and a beta of 1.30. Pentair PLC has a 12-month low of $36.06 and a 12-month high of $50.25. 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 (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $711.40 million for the quarter, compared to analyst estimates of $698.88 million. Pentair had a net margin of 11.04% and a return on equity of 16.35%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Research analysts expect that Pentair PLC will post 2.33 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 19.83%.
Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. ValuEngine raised shares of Pentair from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. Zacks Investment Research raised shares of Pentair from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Stifel Nicolaus raised shares of Pentair from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, October 24th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $48.00 target price on shares of Pentair in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Pentair presently has an average rating of “Hold” and an average target price of $56.08.
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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