Bank of New York Mellon Corp lifted its holdings in Pentair PLC (NYSE:PNR) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,962,850 shares of the industrial products company’s stock after buying an additional 187,946 shares during the period. Bank of New York Mellon Corp owned approximately 1.13% of Pentair worth $74,156,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Eaton Vance Management boosted its stake in shares of Pentair by 0.5% in the 4th quarter. Eaton Vance Management now owns 59,581 shares of the industrial products company’s stock worth $2,251,000 after buying an additional 305 shares during the last quarter. ETF Managers Group LLC lifted its stake in Pentair by 19.6% in the fourth quarter. ETF Managers Group LLC now owns 1,984 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 325 shares during the last quarter. Stephens Inc. AR lifted its stake in Pentair by 3.7% in the fourth quarter. Stephens Inc. AR now owns 13,082 shares of the industrial products company’s stock valued at $494,000 after purchasing an additional 463 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Pentair by 1.4% in the fourth quarter. D.A. Davidson & CO. now owns 37,688 shares of the industrial products company’s stock valued at $1,424,000 after purchasing an additional 503 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Pentair by 1.3% in the fourth quarter. State of Alaska Department of Revenue now owns 46,557 shares of the industrial products company’s stock valued at $1,757,000 after purchasing an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.
Several research firms recently commented on PNR. Oppenheimer reiterated a “hold” rating on shares of Pentair in a research note on Thursday, February 14th. Zacks Investment Research downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine downgraded Pentair from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Morgan Stanley began coverage on Pentair in a research note on Tuesday, December 18th. They issued an “equal weight” rating and a $41.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.40.
In other Pentair news, SVP Ademir Sarcevic sold 1,287 shares of the stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $37.61, for a total transaction of $48,404.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Karl R. Frykman sold 10,241 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $41.28, for a total value of $422,748.48. Following the sale, the chief operating officer now owns 60,877 shares in the company, valued at approximately $2,513,002.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,794 shares of company stock worth $482,559. Company insiders own 10.70% of the company’s stock.
Pentair stock opened at $42.56 on Friday. Pentair PLC has a 12 month low of $35.30 and a 12 month high of $73.07. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $7.31 billion, a P/E ratio of 18.11, a PEG ratio of 1.61 and a beta of 1.25.
Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. The business had revenue of $740.50 million for the quarter, compared to the consensus estimate of $735.74 million. Pentair had a return on equity of 18.86% and a net margin of 9.92%. Pentair’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, analysts predict that Pentair PLC will post 2.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.69%. Pentair’s dividend payout ratio is currently 30.64%.
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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.
Further Reading: Ex-Dividend
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