Gulf International Bank UK Ltd Reduces Stake in Pentair plc (NYSE:PNR)

Gulf International Bank UK Ltd lessened its position in shares of Pentair plc (NYSE:PNR) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,216 shares of the industrial products company’s stock after selling 399 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Pentair were worth $1,292,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its position in shares of Pentair by 5.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after purchasing an additional 8,966 shares during the last quarter. Cetera Investment Advisers grew its position in Pentair by 222.8% during the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after buying an additional 34,959 shares during the period. Swedbank AB increased its holdings in Pentair by 0.9% during the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after buying an additional 10,000 shares during the last quarter. ORG Partners LLC bought a new position in Pentair in the second quarter worth approximately $631,000. Finally, Mizuho Markets Americas LLC boosted its stake in shares of Pentair by 91.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 145,540 shares of the industrial products company’s stock worth $12,435,000 after acquiring an additional 69,517 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

NYSE:PNR opened at $102.93 on Friday. The business’s 50-day moving average is $95.46 and its 200 day moving average is $86.17. Pentair plc has a 12 month low of $60.15 and a 12 month high of $107.32. The company has a market capitalization of $17.01 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.78 and a beta of 1.19. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.89%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Royal Bank of Canada lifted their price objective on Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group lifted their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen increased their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.80.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.