Quantbot Technologies LP Acquires Shares of 26,314 Pentair plc (NYSE:PNR)

Quantbot Technologies LP bought a new position in Pentair plc (NYSE:PNR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,314 shares of the industrial products company’s stock, valued at approximately $2,573,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Harbour Investments Inc. raised its stake in Pentair by 10.7% during the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 636 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Pentair by 222.8% during the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after purchasing an additional 34,959 shares during the period. Swedbank AB increased its stake in shares of Pentair by 0.9% in the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after acquiring an additional 10,000 shares during the last quarter. ORG Partners LLC acquired a new stake in Pentair in the second quarter worth $631,000. Finally, CHICAGO TRUST Co NA bought a new position in Pentair during the second quarter worth about $572,000. Institutional investors own 92.37% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price target on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Mizuho boosted their price objective on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, KeyCorp boosted their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

Pentair Stock Down 0.1 %

Shares of NYSE PNR opened at $108.96 on Thursday. The firm’s 50 day simple moving average is $99.99 and its two-hundred day simple moving average is $88.57. 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 plc has a one year low of $63.09 and a one year high of $110.71. The stock has a market capitalization of $18.00 billion, a P/E ratio of 27.24, a PEG ratio of 1.92 and a beta of 1.19.

Pentair (NYSE:PNR) last posted 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 firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. As a group, analysts expect that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

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

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.