Pentair plc (NYSE:PNR) Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. lifted its position in shares of Pentair plc (NYSE:PNR) by 10.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,585 shares of the industrial products company’s stock after purchasing an additional 636 shares during the period. Harbour Investments Inc.’s holdings in Pentair were worth $644,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PNR. Millennium Management LLC increased its stake in 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 grew 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 worth $209,132,000 after purchasing an additional 53,787 shares during the period. Massachusetts Financial Services Co. MA increased its position in Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after purchasing an additional 996,325 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in 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 valued at $125,704,000 after buying an additional 105,724 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $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 Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays increased 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. Stifel Nicolaus boosted their price target on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Mizuho upped their price target on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Pentair Trading Up 0.1 %

Shares of NYSE PNR opened at $105.92 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $97.70 and its two-hundred day moving average price is $87.25. Pentair plc has a 52-week low of $62.04 and a 52-week high of $107.78. The stock has a market capitalization of $17.50 billion, a P/E ratio of 26.48, a PEG ratio of 1.90 and a beta of 1.19.

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

Pentair Dividend Announcement

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

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.