Pentair plc (NYSE:PNR) Shares Purchased by Prospector Partners LLC

Prospector Partners LLC grew its stake in shares of Pentair plc (NYSE:PNR) by 0.5% in the third quarter, HoldingsChannel reports. The fund owned 145,718 shares of the industrial products company’s stock after buying an additional 676 shares during the quarter. Pentair makes up about 1.5% of Prospector Partners LLC’s portfolio, making the stock its 25th largest position. Prospector Partners LLC’s holdings in Pentair were worth $14,250,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. FMR LLC grew its holdings in Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the period. Millennium Management LLC boosted its holdings in shares of Pentair by 0.7% in the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after purchasing an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 buying an additional 53,787 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 buying an additional 996,325 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Pentair by 6.9% in the 2nd 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 buying an additional 105,724 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Performance

Shares of Pentair stock opened at $107.96 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 1 year low of $62.81 and a 1 year high of $109.31. The firm’s 50-day simple moving average is $99.68 and its 200-day simple moving average is $88.39. The firm has a market cap of $17.84 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19.

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

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio is presently 23.00%.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated 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 transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PNR shares. Mizuho upped their price target on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays upped their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their target price on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

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.