Envestnet Asset Management Inc. increased its position in shares of Pentair PLC. (NYSE:PNR) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,967 shares of the industrial products company’s stock after purchasing an additional 3,465 shares during the period. Envestnet Asset Management Inc.’s holdings in Pentair were worth $4,076,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lord Abbett & CO. LLC grew its position in Pentair by 193.2% during the second quarter. Lord Abbett & CO. LLC now owns 1,327,823 shares of the industrial products company’s stock worth $88,353,000 after buying an additional 875,023 shares during the period. Trian Fund Management L.P. grew its position in Pentair by 6.0% during the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after buying an additional 862,769 shares during the period. BlackRock Inc. grew its position in Pentair by 5.1% during the second quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock worth $808,662,000 after buying an additional 588,818 shares during the period. Bain Capital Public Equity Management LLC grew its position in Pentair by 67.3% during the second quarter. Bain Capital Public Equity Management LLC now owns 1,321,273 shares of the industrial products company’s stock worth $87,918,000 after buying an additional 531,652 shares during the period. Finally, Vanguard Group Inc. grew its position in Pentair by 2.5% during the second quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock worth $1,075,249,000 after buying an additional 392,842 shares during the period. 84.56% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the sale, the director now owns 21,538 shares in the company, valued at $1,443,046. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. bought 9,966 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average price of $69.22 per share, for a total transaction of $689,846.52. Following the transaction, the director now owns 1,122 shares of the company’s stock, valued at approximately $77,664.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 217,632 shares of company stock worth $14,783,286. 9.90% of the stock is owned by company insiders.
Several research analysts have weighed in on PNR shares. BMO Capital Markets restated a “hold” rating and set a $70.00 target price on shares of Pentair in a research report on Wednesday, September 6th. Jefferies Group restated a “hold” rating and set a $59.00 target price on shares of Pentair in a research report on Thursday, September 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $74.00 price target (up from $70.00) on shares of Pentair in a research report on Monday, October 2nd. Cowen reiterated an “underperform” rating and issued a $61.00 price target (up from $59.00) on shares of Pentair in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 price target on shares of Pentair in a research report on Wednesday, October 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.67.
Pentair PLC. (PNR) traded up $0.53 during mid-day trading on Monday, hitting $69.95. 799,400 shares of the stock traded hands, compared to its average volume of 985,600. The firm has a market capitalization of $12,702.74, a price-to-earnings ratio of 20.69, a PEG ratio of 1.86 and a beta of 1.41. Pentair PLC. has a twelve month low of $55.76 and a twelve month high of $71.76. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.30.
Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Pentair had a net margin of 12.50% and a return on equity of 13.39%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. sell-side analysts expect that Pentair PLC. will post 3.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 26th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, January 25th. This represents a $1.40 dividend on an annualized basis and a yield of 2.00%. This is a positive change from Pentair’s previous quarterly dividend of $0.35. Pentair’s dividend payout ratio (DPR) is 41.82%.
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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.
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