Bank of New York Mellon Corp Has $107.80 Million Stock Holdings in Pentair plc $PNR

Bank of New York Mellon Corp lifted its holdings in shares of Pentair plc (NYSE:PNR) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 973,268 shares of the industrial products company’s stock after purchasing an additional 8,063 shares during the period. Bank of New York Mellon Corp’s holdings in Pentair were worth $107,799,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of 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 acquiring an additional 501,506 shares during the last quarter. Nordea Investment Management AB increased its position in 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 valued at $311,046,000 after purchasing an additional 1,800,669 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Pentair by 6.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,333,689 shares of the industrial products company’s stock worth $258,479,000 after purchasing an additional 149,858 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Pentair by 9.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,844,943 shares of the industrial products company’s stock worth $189,402,000 after purchasing an additional 159,438 shares during the period. Finally, Ameriprise Financial Inc. boosted 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 purchasing an additional 428,200 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on PNR shares. TD Cowen cut shares of Pentair from a “buy” rating to a “market perform” rating in a research report on Monday, January 5th. Robert W. Baird set a $130.00 target price on Pentair in a research report on Wednesday, October 22nd. Barclays downgraded Pentair from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $127.00 to $115.00 in a report on Thursday, December 4th. UBS Group increased their price target on Pentair from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group upgraded shares of Pentair from a “hold” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $135.00 in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.47.

Insider Buying and Selling

In related news, Director T Michael Glenn sold 6,558 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $104.33, for a total value of $684,196.14. Following the sale, the director directly owned 31,192 shares in the company, valued at approximately $3,254,261.36. The trade was a 17.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert P. Fishman sold 7,786 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $105.42, for a total transaction of $820,800.12. Following the sale, the chief financial officer owned 63,164 shares in the company, valued at $6,658,748.88. The trade was a 10.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.45% of the stock is owned by corporate insiders.

Pentair Stock Performance

Shares of Pentair stock opened at $105.37 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.46 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $105.08 and a 200-day moving average price of $106.59. Pentair plc has a 52 week low of $74.25 and a 52 week high of $113.95. The company has a market cap of $17.24 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be given a dividend of $0.27 per share. The ex-dividend date is Friday, January 23rd. This is an increase from Pentair’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.0%. Pentair’s dividend payout ratio (DPR) is currently 27.41%.

Pentair 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.