Pentair plc (NYSE:PNR) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in shares of Pentair plc (NYSE:PNR) by 93.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 380,658 shares of the industrial products company’s stock after acquiring an additional 184,003 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Pentair were worth $37,225,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares during the period. Swedbank AB acquired a new position in Pentair during the first quarter valued at approximately $97,083,000. Massachusetts Financial Services Co. MA lifted its position in 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 buying an additional 996,325 shares in the last quarter. Interval Partners LP grew its stake in Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after buying an additional 710,703 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Pentair by 360.6% in the first quarter. SG Americas Securities LLC now owns 601,171 shares of the industrial products company’s stock worth $51,364,000 after acquiring an additional 470,662 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Up 1.4 %

NYSE:PNR opened at $99.39 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.60. The company has a market capitalization of $16.45 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. Pentair plc has a one year low of $57.18 and a one year high of $99.96. The stock has a 50-day simple moving average of $92.53 and a 200 day simple moving average of $84.83.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. Sell-side analysts predict that Pentair plc will post 4.27 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. Pentair’s dividend payout ratio (DPR) is 23.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PNR shares. Oppenheimer lifted their target price on shares of Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday. KeyCorp upped their target price on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Barclays lifted their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Company 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.