Fifth Third Bancorp Has $146,000 Holdings in Pentair plc (NYSE:PNR)

Fifth Third Bancorp lifted its position in shares of Pentair plc (NYSE:PNRGet Rating) by 34.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,593 shares of the industrial products company’s stock after purchasing an additional 924 shares during the quarter. Fifth Third Bancorp’s holdings in Pentair were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PNR. Raymond James Financial Services Advisors Inc. boosted its stake in Pentair by 10.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,329 shares of the industrial products company’s stock valued at $885,000 after buying an additional 1,554 shares in the last quarter. HighTower Advisors LLC boosted its stake in Pentair by 54.2% in the 1st quarter. HighTower Advisors LLC now owns 16,188 shares of the industrial products company’s stock valued at $879,000 after buying an additional 5,692 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Pentair by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,141 shares of the industrial products company’s stock valued at $1,200,000 after buying an additional 1,371 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Pentair by 0.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 126,084 shares of the industrial products company’s stock valued at $7,146,000 after buying an additional 322 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Pentair by 17.3% in the 1st quarter. Allianz Asset Management GmbH now owns 14,212 shares of the industrial products company’s stock valued at $770,000 after buying an additional 2,098 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Insider Activity at Pentair

In other Pentair news, Director Glynis Bryan sold 3,947 shares of the business’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $45.14, for a total value of $178,167.58. Following the completion of the transaction, the director now directly owns 27,609 shares of the company’s stock, valued at $1,246,270.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Pentair Trading Up 0.6 %

NYSE PNR opened at $49.86 on Friday. The stock has a 50-day simple moving average of $45.23 and a 200 day simple moving average of $45.11. The company has a market capitalization of $8.20 billion, a PE ratio of 15.53, a P/E/G ratio of 1.54 and a beta of 1.07. The company has a current ratio of 1.42, a quick ratio of 0.71 and a debt-to-equity ratio of 0.93. Pentair plc has a 12 month low of $38.55 and a 12 month high of $70.08.

Pentair (NYSE:PNRGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The industrial products company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Pentair had a return on equity of 24.47% and a net margin of 13.02%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 earnings per share. Research analysts forecast that Pentair plc will post 3.65 EPS for the current year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 3rd. Investors of record on Friday, January 20th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, January 19th. This is an increase from Pentair’s previous quarterly dividend of $0.21. Pentair’s dividend payout ratio is currently 26.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PNR shares. StockNews.com upgraded Pentair from a “sell” rating to a “hold” rating in a research report on Friday, January 6th. Stifel Nicolaus upgraded Pentair from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $57.00 in a research report on Monday, December 19th. TheStreet downgraded Pentair from a “b-” rating to a “c+” rating in a research report on Friday, October 7th. JPMorgan Chase & Co. started coverage on Pentair in a research report on Wednesday, October 26th. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on Pentair from $39.00 to $41.00 and gave the company an “underweight” rating in a research report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $52.60.

Pentair Company Profile

(Get Rating)

Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

See Also

Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair plc (NYSE:PNRGet Rating).

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

Receive News & Ratings for Pentair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair and related companies with MarketBeat.com's FREE daily email newsletter.