Riverhead Capital Management LLC Raises Holdings in Pentair PLC (PNR)

Riverhead Capital Management LLC raised its position in Pentair PLC (NYSE:PNR) by 503.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,287 shares of the industrial products company’s stock after buying an additional 57,800 shares during the quarter. Riverhead Capital Management LLC’s holdings in Pentair were worth $3,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Pentair by 55.7% in the third quarter. JPMorgan Chase & Co. now owns 1,209,876 shares of the industrial products company’s stock valued at $52,449,000 after purchasing an additional 432,892 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Pentair by 2.7% in the third quarter. Allianz Asset Management GmbH now owns 116,598 shares of the industrial products company’s stock valued at $5,054,000 after purchasing an additional 3,045 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Pentair by 13.4% in the third quarter. Ancora Advisors LLC now owns 116,198 shares of the industrial products company’s stock valued at $5,037,000 after purchasing an additional 13,732 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Pentair in the third quarter valued at $290,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Pentair in the third quarter valued at $278,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

In related news, Director Glynis Bryan sold 17,133 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 9.90% of the stock is owned by insiders.

Pentair stock opened at $39.72 on Friday. Pentair PLC has a 52 week low of $36.06 and a 52 week high of $50.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.40 and a quick ratio of 0.85. The stock has a market cap of $6.99 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $711.40 million during the quarter, compared to analysts’ expectations of $698.88 million. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that Pentair PLC will post 2.33 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on PNR shares. ValuEngine cut Pentair from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 17th. Zacks Investment Research cut Pentair from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Stifel Nicolaus lifted 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. Finally, JPMorgan Chase & Co. lifted their price target on Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Two equities research 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 has an average rating of “Hold” and a consensus target price of $56.08.

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Pentair Company 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.

Further Reading: What is an investor looking for in an SEC filing?

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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