Redpoint Investment Management Pty Ltd lifted its holdings in shares of Pentair PLC (NYSE:PNR) by 800.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,108 shares of the industrial products company’s stock after acquiring an additional 73,882 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Pentair were worth $3,140,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PNR. Nordea Investment Management AB acquired a new stake in shares of Pentair during the 3rd quarter worth about $30,745,000. Bank of New York Mellon Corp grew its stake in shares of Pentair by 56.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,774,904 shares of the industrial products company’s stock valued at $76,942,000 after purchasing an additional 640,849 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Pentair by 273.5% in the 3rd quarter. Prudential Financial Inc. now owns 855,530 shares of the industrial products company’s stock valued at $37,087,000 after purchasing an additional 626,490 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Pentair by 68.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 1,528,930 shares of the industrial products company’s stock valued at $66,279,000 after purchasing an additional 621,206 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Pentair by 133.7% in the 3rd quarter. First Trust Advisors LP now owns 901,481 shares of the industrial products company’s stock valued at $39,079,000 after purchasing an additional 515,769 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.
Pentair stock opened at $41.09 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Pentair PLC has a 1-year low of $35.30 and a 1-year high of $73.07. The company has a market capitalization of $7.13 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.55 and a beta of 1.27.
Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. Pentair had a return on equity of 18.86% and a net margin of 9.92%. The firm had revenue of $740.50 million for the quarter, compared to the consensus estimate of $735.74 million. During the same period in the previous year, the business earned $0.93 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Pentair PLC will post 2.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Friday, January 25th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 24th. This is an increase from Pentair’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.75%. Pentair’s payout ratio is 30.64%.
Several research analysts have weighed in on the company. Zacks Investment Research reiterated a “buy” rating and issued a $47.00 target price on shares of Pentair in a research note on Wednesday, November 14th. JPMorgan Chase & Co. lifted their target price on Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. ValuEngine downgraded Pentair from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Oppenheimer reiterated a “hold” rating on shares of Pentair in a research note on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Pentair presently has a consensus rating of “Hold” and a consensus target price of $51.09.
In other Pentair news, COO Karl R. Frykman sold 10,241 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $41.28, for a total transaction of $422,748.48. Following the sale, the chief operating officer now directly owns 60,877 shares in the company, valued at $2,513,002.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ademir Sarcevic sold 1,287 shares of the business’s stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $37.61, for a total value of $48,404.07. The disclosure for this sale can be found here. 10.70% of the stock is owned by insiders.
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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