Pentair plc $PNR Shares Newly Acquired by Bfsg LLC

Bfsg LLC purchased a new stake in Pentair plc (NYSE:PNR) during the third quarter, Holdings Channel reports. The firm purchased 67,240 shares of the industrial products company’s stock, valued at approximately $3,563,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in shares of Pentair by 277.8% during the 2nd quarter. Wellington Management Group LLP now owns 48,370 shares of the industrial products company’s stock worth $3,708,000 after buying an additional 35,568 shares during the period. Amundi grew its holdings in Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock worth $369,208,000 after acquiring an additional 491,758 shares during the period. Handelsbanken Fonder AB grew its holdings in Pentair by 10.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 206,025 shares of the industrial products company’s stock worth $15,794,000 after acquiring an additional 19,053 shares during the period. Outfitters Financial LLC acquired a new position in shares of Pentair in the 2nd quarter valued at $246,000. Finally, Corient Private Wealth LP acquired a new position in shares of Pentair in the 2nd quarter valued at $244,000. 92.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PNR. Royal Bank Of Canada raised their target price on Pentair from $61.00 to $69.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 28th. TD Cowen raised shares of Pentair from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $65.00 to $55.00 in a research note on Wednesday, October 14th. Mizuho cut their target price on shares of Pentair from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $81.00 target price on shares of Pentair in a report on Monday, July 27th. Finally, BNP Paribas Exane upgraded Pentair from an “underperform” rating to a “neutral” rating and set a $65.00 price objective for the company in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Pentair presently has a consensus rating of “Hold” and an average target price of $76.59.

Pentair Stock Up 3.4%

NYSE:PNR opened at $72.13 on Thursday. The company has a market cap of $11.52 billion, a PE ratio of 19.13, a PEG ratio of 1.64 and a beta of 1.01. The stock has a 50-day simple moving average of $57.20 and a 200 day simple moving average of $75.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.47. Pentair plc has a 52-week low of $51.13 and a 52-week high of $109.89.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $976.40 million for the quarter, compared to the consensus estimate of $963.71 million. Pentair had a net margin of 15.44% and a return on equity of 20.10%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. On average, sell-side analysts expect that Pentair plc will post 4.70 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. Pentair’s dividend payout ratio (DPR) is currently 28.65%.

Pentair Profile

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.