Fmr LLC Acquires 258,134 Shares of Pentair plc (NYSE:PNR)

Fmr LLC grew its holdings in Pentair plc (NYSE:PNR) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,704,672 shares of the industrial products company’s stock after purchasing an additional 258,134 shares during the period. Fmr LLC’s holdings in Pentair were worth $557,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PNR. Massachusetts Financial Services Co. MA increased its stake in shares of 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 valued at $159,655,000 after purchasing an additional 996,325 shares during the last quarter. Interval Partners LP increased its stake in shares of Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after purchasing an additional 710,703 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Pentair by 44.7% in the 2nd quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock valued at $51,589,000 after purchasing an additional 207,830 shares during the last quarter. Swedbank AB boosted its holdings in shares of Pentair by 17.9% during the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock valued at $132,141,000 after acquiring an additional 205,000 shares in the last quarter. Finally, Andra AP fonden acquired a new stake in shares of Pentair during the 2nd quarter valued at $14,629,000. Institutional investors own 92.37% of the company’s stock.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PNR shares. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. TD Cowen raised their price objective on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer raised their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Finally, Barclays raised their price objective on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Pentair currently 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 Friday. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The business’s 50-day moving average is $100.30 and its 200-day moving average is $88.71. Pentair plc has a 1 year low of $63.09 and a 1 year high of $110.71.

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

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair’s dividend 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.