Pentair plc (NYSE:PNR) Holdings Raised by Sandbar Asset Management LLP

Sandbar Asset Management LLP increased its stake in Pentair plc (NYSE:PNR) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,652 shares of the industrial products company’s stock after purchasing an additional 1,651 shares during the quarter. Pentair makes up 3.5% of Sandbar Asset Management LLP’s investment portfolio, making the stock its 12th largest holding. Sandbar Asset Management LLP’s holdings in Pentair were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNR. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Pentair by 1.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,826 shares of the industrial products company’s stock worth $893,000 after purchasing an additional 150 shares during the period. Czech National Bank increased its stake in Pentair by 0.8% during the second quarter. Czech National Bank now owns 19,526 shares of the industrial products company’s stock valued at $1,261,000 after acquiring an additional 162 shares during the period. Main Street Financial Solutions LLC raised its holdings in Pentair by 2.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,426 shares of the industrial products company’s stock valued at $415,000 after acquiring an additional 170 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Pentair by 0.3% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 72,472 shares of the industrial products company’s stock worth $4,006,000 after acquiring an additional 200 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Pentair by 6.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,215 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 88.60% of the company’s stock.

Insider Buying and Selling

In other news, EVP Philip M. Rolchigo sold 4,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.77, for a total value of $243,080.00. Following the completion of the sale, the executive vice president now directly owns 18,535 shares of the company’s stock, valued at approximately $1,126,371.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PNR shares. Barclays reduced their target price on Pentair from $82.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. JPMorgan Chase & Co. cut their price target on shares of Pentair from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 25th. Royal Bank of Canada increased their target price on Pentair from $74.00 to $75.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Seaport Res Ptn restated a “buy” rating on shares of Pentair in a research report on Monday, August 7th. Finally, TD Cowen upped their price target on Pentair from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.21.

Pentair Trading Down 0.7 %

Shares of PNR stock traded down $0.41 on Tuesday, reaching $62.43. 243,691 shares of the stock were exchanged, compared to its average volume of 1,360,566. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.50 and a quick ratio of 0.79. Pentair plc has a one year low of $43.19 and a one year high of $71.82. The stock has a market cap of $10.32 billion, a PE ratio of 20.35, a P/E/G ratio of 1.84 and a beta of 1.19. The stock has a 50 day moving average price of $63.02 and a 200 day moving average price of $63.67.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. Pentair had a net margin of 12.36% and a return on equity of 21.35%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $992.23 million. During the same quarter in the previous year, the company earned $0.99 EPS. Pentair’s revenue was down 4.4% on a year-over-year basis. Equities research analysts forecast that Pentair plc will post 3.73 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Friday, October 20th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.88 annualized dividend and a dividend yield of 1.41%. Pentair’s dividend payout ratio is currently 28.66%.

Pentair Company Profile

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It 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 use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.