Pentair plc (NYSE:PNR) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC decreased its holdings in Pentair plc (NYSE:PNR) by 15.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 267,538 shares of the industrial products company’s stock after selling 50,581 shares during the quarter. Eventide Asset Management LLC owned 0.16% of Pentair worth $26,163,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PNR. Massachusetts Financial Services Co. MA raised its holdings in Pentair by 91.7% in 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 purchasing an additional 996,325 shares during the period. Interval Partners LP raised its holdings in Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares during the period. FMR LLC raised its holdings in Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares during the period. AQR Capital Management LLC raised its holdings in Pentair by 44.7% in the 2nd quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock worth $51,589,000 after purchasing an additional 207,830 shares during the period. Finally, Swedbank AB raised its holdings in Pentair by 17.9% in the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after purchasing an additional 205,000 shares during the period. 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 shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Pentair Stock Down 0.1 %

Shares of NYSE:PNR opened at $108.96 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a fifty-two week low of $63.09 and a fifty-two week high of $110.71. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The firm’s 50 day moving average price is $100.57 and its 200 day moving average price is $88.85.

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

Pentair Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. Pentair’s payout ratio is 23.00%.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of research analyst reports. Barclays increased their target price on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. KeyCorp increased their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Mizuho increased their target price on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.38.

Pentair 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.