Sumitomo Mitsui Trust Group Inc. Has $41.16 Million Stock Position in Pentair plc (NYSE:PNR)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Pentair plc (NYSE:PNR) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 420,887 shares of the industrial products company’s stock after purchasing an additional 6,943 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Pentair worth $41,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 121 shares during the last quarter. Wedmont Private Capital raised its holdings in Pentair by 3.9% in the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares during the period. Fifth Third Bancorp raised its holdings in Pentair by 3.8% in the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares during the period. Inspire Advisors LLC grew its holdings in shares of Pentair by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after buying an additional 130 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after buying an additional 139 shares during the period. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PNR. KeyCorp raised their price objective on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays boosted their price objective on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho raised their target price on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group upped their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Pentair Stock Performance

Shares of NYSE PNR opened at $105.92 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The stock has a 50 day moving average price of $97.70 and a 200 day moving average price of $87.25. The stock has a market capitalization of $17.50 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. Pentair plc has a 52 week low of $62.04 and a 52 week high of $107.78.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating 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 company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the prior 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. Analysts predict that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is currently 23.00%.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

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.