Pentair (NYSE:PNR) Sees Strong Trading Volume – Here’s Why

Pentair plc (NYSE:PNR) shares saw an uptick in trading volume on Thursday . Approximately 3,018,395 shares changed hands during trading, an increase of 55% from the previous session’s volume of 1,945,187 shares.The stock last traded at $77.1710 and had previously closed at $74.81.

Analyst Ratings Changes

A number of brokerages recently issued reports on PNR. Citigroup decreased their price objective on shares of Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. TD Cowen reduced their target price on Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a report on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Oppenheimer lowered their price target on Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, Weiss Ratings downgraded Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Hold” and an average price target of $107.86.

Pentair Price Performance

The business has a 50-day moving average of $77.70 and a two-hundred day moving average of $91.27. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The firm has a market cap of $12.34 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

Pentair (NYSE:PNR) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. On average, sell-side analysts anticipate that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, July 24th. Pentair’s dividend payout ratio (DPR) is 26.47%.

Hedge Funds Weigh In On Pentair

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNR. Avanza Fonder AB grew its position in shares of Pentair by 142.1% in the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock valued at $4,055,000 after buying an additional 22,858 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Pentair by 13.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock worth $274,810,000 after acquiring an additional 305,166 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Pentair by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after acquiring an additional 647,162 shares during the period. SG Americas Securities LLC boosted its holdings in Pentair by 624.2% in the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock valued at $37,766,000 after acquiring an additional 312,574 shares during the last quarter. Finally, Hudson Bay Capital Management LP increased its position in Pentair by 38.2% during the 3rd quarter. Hudson Bay Capital Management LP now owns 132,134 shares of the industrial products company’s stock valued at $14,635,000 after purchasing an additional 36,498 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.