Pentair plc (NYSE:PNR) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its position in shares of Pentair plc (NYSE:PNR) by 1.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 140,707 shares of the industrial products company’s stock after acquiring an additional 2,072 shares during the period. Fisher Asset Management LLC’s holdings in Pentair were worth $13,760,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in Pentair by 0.7% during the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after acquiring an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pentair by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after buying an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after buying an additional 996,325 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Pentair by 6.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after buying an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after buying an additional 1,228,635 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction on Friday, November 1st. The stock was 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 directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen upped their price target on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Mizuho lifted their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

Pentair Stock Down 0.1 %

Pentair stock opened at $108.96 on Thursday. The stock’s 50 day moving average price is $99.99 and its 200 day moving average price is $88.57. Pentair plc has a 1-year low of $63.09 and a 1-year high of $110.71. The company has a market cap of $18.00 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

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

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.84%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

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.