Massachusetts Financial Services Co. MA Has $258.48 Million Position in Pentair plc $PNR

Massachusetts Financial Services Co. MA lifted its holdings in Pentair plc (NYSE:PNR) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,333,689 shares of the industrial products company’s stock after buying an additional 149,858 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Pentair were worth $258,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in Pentair by 5.9% during the second quarter. State Street Corp now owns 8,970,940 shares of the industrial products company’s stock worth $920,957,000 after purchasing an additional 501,506 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Pentair by 173.6% during the 3rd quarter. Nordea Investment Management AB now owns 2,837,753 shares of the industrial products company’s stock worth $311,046,000 after buying an additional 1,800,669 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Pentair by 9.5% during the 2nd quarter. ProShare Advisors LLC now owns 1,844,943 shares of the industrial products company’s stock worth $189,402,000 after buying an additional 159,438 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Pentair by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,565,882 shares of the industrial products company’s stock valued at $160,751,000 after acquiring an additional 428,200 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Pentair by 77.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,179,687 shares of the industrial products company’s stock valued at $121,107,000 after acquiring an additional 514,571 shares during the period. Institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

Shares of NYSE PNR opened at $107.32 on Tuesday. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.88 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 1.46. Pentair plc has a fifty-two week low of $74.25 and a fifty-two week high of $113.95. The firm’s 50-day simple moving average is $104.71 and its 200 day simple moving average is $106.57.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.06. Pentair had a return on equity of 21.83% and a net margin of 15.84%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the company posted $1.09 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be given a $0.27 dividend. This is an increase from Pentair’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, January 23rd. Pentair’s dividend payout ratio (DPR) is 25.38%.

Insider Activity

In other news, CFO Robert P. Fishman sold 7,786 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $105.42, for a total value of $820,800.12. Following the transaction, the chief financial officer owned 63,164 shares of the company’s stock, valued at approximately $6,658,748.88. This represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director T Michael Glenn sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $104.33, for a total transaction of $684,196.14. Following the completion of the transaction, the director owned 31,192 shares in the company, valued at approximately $3,254,261.36. This trade represents a 17.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group raised their price target on shares of Pentair from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. BNP Paribas Exane restated an “underperform” rating and issued a $90.00 target price on shares of Pentair in a research note on Wednesday, January 7th. Cowen lowered Pentair from a “buy” rating to a “market perform” rating in a research report on Monday, January 5th. Royal Bank Of Canada increased their price target on Pentair from $121.00 to $124.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Wolfe Research reissued an “outperform” rating and issued a $135.00 price objective on shares of Pentair in a research note on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average price target of $115.75.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.