Pathstone Holdings LLC Acquires 6,391 Shares of Pentair plc (NYSE:PNR)

Pathstone Holdings LLC boosted its holdings in Pentair plc (NYSE:PNR) by 47.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 19,881 shares of the industrial products company’s stock after purchasing an additional 6,391 shares during the quarter. Pathstone Holdings LLC’s holdings in Pentair were worth $1,944,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PNR. Millennium Management LLC boosted its position in shares of Pentair by 0.7% during the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after acquiring an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Pentair by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after purchasing an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after purchasing an additional 996,325 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Pentair by 6.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after purchasing an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Pentair by 352.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after buying an additional 1,228,635 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PNR shares. Wolfe Research assumed coverage on Pentair in a research note on Tuesday. They issued an “outperform” rating and a $125.00 price objective on the stock. UBS Group boosted their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen boosted their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price target on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.28% of the stock is owned by company insiders.

Pentair Stock Up 1.1 %

NYSE:PNR opened at $109.15 on Wednesday. Pentair plc has a twelve month low of $62.81 and a twelve month high of $109.31. The stock has a fifty day simple moving average of $99.68 and a 200-day simple moving average of $88.39. The company has a market cap of $18.03 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Analysts anticipate that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

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.