Assetmark Inc. Has $129,000 Position in Pentair plc (NYSE:PNR)

Assetmark Inc. boosted its stake in shares of Pentair plc (NYSE:PNR) by 332.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319 shares of the industrial products company’s stock after acquiring an additional 1,014 shares during the quarter. Assetmark Inc.’s holdings in Pentair were worth $129,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. CWA Asset Management Group LLC acquired a new position in Pentair during the third quarter worth $253,000. Leavell Investment Management Inc. raised its stake in Pentair by 24.3% during the third quarter. Leavell Investment Management Inc. now owns 3,976 shares of the industrial products company’s stock worth $389,000 after acquiring an additional 776 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Pentair during the third quarter worth $93,000. Portside Wealth Group LLC raised its stake in Pentair by 11.7% during the third quarter. Portside Wealth Group LLC now owns 2,989 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 312 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Pentair by 5.5% in the third quarter. Principal Financial Group Inc. now owns 219,061 shares of the industrial products company’s stock valued at $21,422,000 after buying an additional 11,392 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Pentair Price Performance

Pentair stock opened at $105.92 on Monday. The business’s 50-day simple moving average is $97.70 and its 200 day simple moving average is $87.36. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.89 and a beta of 1.19. Pentair plc has a 12-month low of $62.04 and a 12-month high of $107.78. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. During the same quarter last year, the business earned $0.94 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend payout ratio (DPR) is currently 23.00%.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of research reports. TD Cowen raised their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays raised their target price on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group raised their target price on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.13.

About Pentair

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.