PNC Financial Services Group Inc. increased its position in shares of Pentair plc (NYSE:PNR – Free Report) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,632 shares of the industrial products company’s stock after purchasing an additional 3,973 shares during the period. PNC Financial Services Group Inc.’s holdings in Pentair were worth $2,372,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Pentair by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,246,330 shares of the industrial products company’s stock worth $781,978,000 after purchasing an additional 186,726 shares during the period. BlackRock Inc. boosted its stake in shares of Pentair by 2.8% during the 2nd quarter. BlackRock Inc. now owns 16,446,044 shares of the industrial products company’s stock worth $1,062,414,000 after purchasing an additional 446,327 shares during the period. State Street Corp boosted its stake in shares of Pentair by 4.4% during the 3rd quarter. State Street Corp now owns 10,611,971 shares of the industrial products company’s stock worth $431,164,000 after purchasing an additional 443,034 shares during the period. Invesco Ltd. boosted its stake in shares of Pentair by 8.2% during the 1st quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock worth $344,045,000 after purchasing an additional 479,701 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Pentair by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,596,912 shares of the industrial products company’s stock worth $231,769,000 after purchasing an additional 74,247 shares during the period. 88.60% of the stock is owned by hedge funds and other institutional investors.
Pentair Stock Up 0.9 %
NYSE:PNR opened at $75.29 on Friday. The company has a market cap of $12.45 billion, a PE ratio of 20.08, a P/E/G ratio of 1.71 and a beta of 1.20. Pentair plc has a twelve month low of $50.15 and a twelve month high of $75.94. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $72.31 and its two-hundred day moving average is $67.63.
Pentair (NYSE:PNR – Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. The business had revenue of $984.60 million for the quarter, compared to the consensus estimate of $975.36 million. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. Analysts anticipate that Pentair plc will post 4.21 EPS for the current year.
Pentair Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.53%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on PNR shares. KeyCorp upgraded shares of Pentair from a “sector weight” rating to an “overweight” rating and set a $82.00 price objective for the company in a report on Wednesday, December 13th. Royal Bank of Canada decreased their price objective on shares of Pentair from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $76.00 in a report on Thursday, January 11th. Stifel Nicolaus boosted their price target on shares of Pentair from $81.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, UBS Group boosted their price target on shares of Pentair from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.08.
Read Our Latest Analysis on Pentair
Insider Activity at Pentair
In related news, Director David A. /Wi Jones sold 2,260 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $67.85, for a total value of $153,341.00. Following the completion of the transaction, the director now directly owns 23,081 shares in the company, valued at approximately $1,566,045.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
About Pentair
Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.
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Source: defenseworld.net
