Cipher Capital LP Acquires New Position in Pentair PLC. (PNR)

Cipher Capital LP acquired a new stake in Pentair PLC. (NYSE:PNR) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 27,004 shares of the industrial products company’s stock, valued at approximately $1,835,000.

A number of other hedge funds also recently bought and sold shares of PNR. Bank of Montreal Can grew its holdings in Pentair by 11.2% during the 2nd quarter. Bank of Montreal Can now owns 59,396 shares of the industrial products company’s stock valued at $3,952,000 after buying an additional 5,970 shares in the last quarter. Creative Planning grew its holdings in shares of Pentair by 22.3% during the second quarter. Creative Planning now owns 5,128 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 935 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Pentair by 5.1% during the second quarter. State of Alaska Department of Revenue now owns 3,478 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 170 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Pentair by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 59,704 shares of the industrial products company’s stock worth $3,970,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Pentair by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 100 shares in the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.

In related news, insider Karl R. Frykman sold 7,385 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $70.00, for a total transaction of $516,950.00. Following the sale, the insider now directly owns 40,775 shares of the company’s stock, valued at $2,854,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Trian Fund Management, L.P. acquired 9,966 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average cost of $69.22 per share, for a total transaction of $689,846.52. Following the completion of the transaction, the director now directly owns 1,122 shares of the company’s stock, valued at $77,664.84. The disclosure for this purchase can be found here. Over the last three months, insiders sold 217,632 shares of company stock worth $14,783,286. Insiders own 9.90% of the company’s stock.

Shares of Pentair PLC. (NYSE PNR) traded up $0.19 during mid-day trading on Thursday, reaching $69.42. The company had a trading volume of 947,998 shares, compared to its average volume of 986,389. The stock has a market capitalization of $12,448.50, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Pentair PLC. has a 12 month low of $55.76 and a 12 month high of $71.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.59.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. Pentair had a return on equity of 13.39% and a net margin of 12.50%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. equities research analysts predict that Pentair PLC. will post 3.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 26th will be paid a $0.35 dividend. This is a boost from Pentair’s previous quarterly dividend of $0.35. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, January 25th. Pentair’s dividend payout ratio is currently 41.82%.

PNR has been the subject of several recent analyst reports. BMO Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of Pentair in a report on Wednesday, September 6th. Jefferies Group reaffirmed a “hold” rating and issued a $59.00 target price on shares of Pentair in a research note on Thursday, September 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $74.00 target price (up previously from $70.00) on shares of Pentair in a research note on Monday, October 2nd. Cowen reaffirmed an “underperform” rating and issued a $61.00 target price (up previously from $59.00) on shares of Pentair in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 price objective on shares of Pentair in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $70.67.

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Pentair Profile

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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