Assenagon Asset Management S.A. Boosts Position in Pentair PLC (PNR)

Assenagon Asset Management S.A. increased its holdings in shares of Pentair PLC (NYSE:PNR) by 277.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,235 shares of the industrial products company’s stock after acquiring an additional 78,116 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Pentair worth $4,605,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PNR. Russell Investments Group Ltd. raised its holdings in Pentair by 91.8% in the third quarter. Russell Investments Group Ltd. now owns 282,758 shares of the industrial products company’s stock worth $12,264,000 after buying an additional 135,307 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Pentair by 95.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 505,016 shares of the industrial products company’s stock valued at $21,893,000 after buying an additional 246,168 shares during the last quarter. First Trust Advisors LP increased its holdings in Pentair by 133.7% during the third quarter. First Trust Advisors LP now owns 901,481 shares of the industrial products company’s stock valued at $39,079,000 after buying an additional 515,769 shares during the last quarter. Capital Advisors Ltd. LLC purchased a new stake in Pentair during the third quarter valued at approximately $142,000. Finally, Calamos Advisors LLC increased its holdings in Pentair by 45.9% during the third quarter. Calamos Advisors LLC now owns 138,519 shares of the industrial products company’s stock valued at $6,005,000 after buying an additional 43,586 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.

PNR has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $48.00 target price on shares of Pentair in a report on Friday, July 13th. Zacks Investment Research cut shares of Pentair from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Robert W. Baird reaffirmed a “hold” rating and set a $44.00 target price on shares of Pentair in a report on Friday, July 20th. ValuEngine raised shares of Pentair from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, Barclays reaffirmed a “sell” rating and set a $39.00 target price on shares of Pentair in a report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Pentair has an average rating of “Hold” and a consensus target price of $56.08.

In other Pentair news, Director Glynis Bryan sold 17,133 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $770,985.00. Following the completion of the transaction, the director now directly owns 35,115 shares in the company, valued at $1,580,175. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $42.15, for a total transaction of $71,655,000.00. Following the completion of the transaction, the director now owns 2,862 shares of the company’s stock, valued at $120,633.30. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

PNR opened at $41.63 on Friday. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.60 and a beta of 1.30. Pentair PLC has a 1-year low of $36.06 and a 1-year high of $50.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.40 and a quick ratio of 0.85.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The business had revenue of $711.40 million during the quarter, compared to analyst estimates of $698.88 million. Pentair had a net margin of 11.04% and a return on equity of 16.35%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. Equities research analysts anticipate that Pentair PLC will post 2.33 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were given a $0.175 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.68%. Pentair’s payout ratio is currently 19.83%.

Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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