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

Fmr LLC increased its position in shares of Pentair plc (NYSE:PNR) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,704,672 shares of the industrial products company’s stock after buying an additional 258,134 shares during the quarter. Fmr LLC owned 3.45% of Pentair worth $557,860,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Pentair by 0.7% during the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after buying an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after purchasing an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Pentair by 91.7% during the second 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. Kayne Anderson Rudnick Investment Management LLC boosted its position in Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after purchasing an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Pentair by 11.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,489,715 shares of the industrial products company’s stock valued at $143,823,000 after purchasing an additional 158,433 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Pentair Stock Performance

NYSE:PNR opened at $108.96 on Friday. The stock has a market cap of $18.00 billion, a P/E ratio of 27.24, a PEG ratio of 1.92 and a beta of 1.19. The stock has a 50 day simple moving average of $100.30 and a 200 day simple moving average of $88.71. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Pentair plc has a 1-year low of $63.09 and a 1-year high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings results 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. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. During the same period last year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts anticipate that Pentair plc will post 4.28 earnings per share for the current 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. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.84%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Analyst Upgrades and Downgrades

PNR has been the subject of several recent research reports. Barclays increased their price target on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group increased their price target on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. KeyCorp raised their price objective on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.38.

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.