Exchange Traded Concepts LLC Increases Stock Holdings in Pentair plc (NYSE:PNR)

Exchange Traded Concepts LLC increased its stake in shares of Pentair plc (NYSE:PNR) by 116.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,793 shares of the industrial products company’s stock after purchasing an additional 12,246 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Pentair were worth $2,294,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PNR. National Bank of Canada FI increased its stake in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after acquiring an additional 395,962 shares during the period. World Investment Advisors LLC acquired a new position in Pentair during the 3rd quarter worth approximately $26,748,000. State Street Corp raised its stake in shares of Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares in the last quarter. FMR LLC lifted its holdings in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after buying an additional 258,134 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Pentair by 44.7% in the second quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock valued at $51,589,000 after buying an additional 207,830 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 1.3 %

Shares of NYSE PNR opened at $103.02 on Monday. The firm has a market cap of $17.02 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 1 year low of $70.98 and a 1 year high of $110.71. The firm’s 50 day moving average price is $104.11 and its 200 day moving average price is $96.02.

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be given a $0.25 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is currently 25.00%.

Analysts Set New Price Targets

Several research firms have issued reports on PNR. UBS Group increased their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup decreased their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wolfe Research began coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. Oppenheimer upped their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.07.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

About Pentair

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.