Perpetual Ltd Has $13.51 Million Position in Pentair plc (NYSE:PNR)

Perpetual Ltd cut its stake in Pentair plc (NYSE:PNR) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,240 shares of the industrial products company’s stock after selling 5,604 shares during the quarter. Perpetual Ltd owned approximately 0.08% of Pentair worth $13,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP increased its position in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. Eastern Bank increased its holdings in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after buying an additional 300 shares during the last quarter. Blue Trust Inc. increased its holdings in Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares during the last quarter. Friedenthal Financial acquired a new stake in Pentair in the fourth quarter valued at approximately $56,000. Finally, True Wealth Design LLC grew its position in Pentair by 4,450.0% in the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 623 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Up 0.4 %

PNR stock opened at $102.98 on Tuesday. Pentair plc has a twelve month low of $69.56 and a twelve month high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The company has a market cap of $17.02 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. The business’s 50-day simple moving average is $104.21 and its 200 day simple moving average is $95.20.

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, 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 return on equity of 20.48% and a net margin of 16.29%. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. On average, research analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. This is an increase from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is currently 23.00%.

Analysts Set New Price Targets

PNR has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer raised their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Mizuho upped their price target on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. KeyCorp restated a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and an average target price of $111.13.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.28% of the company’s stock.

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.