Pentair plc (NYSE:PNR) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its holdings in shares of Pentair plc (NYSE:PNRFree Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,318 shares of the industrial products company’s stock after acquiring an additional 3,264 shares during the period. CIBC Private Wealth Group LLC owned about 0.12% of Pentair worth $14,202,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kodai Capital Management LP acquired a new position in shares of Pentair in the 4th quarter worth approximately $173,280,000. KBC Group NV increased its stake in Pentair by 49.2% during the fourth quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after purchasing an additional 392,785 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Pentair by 228.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 373,082 shares of the industrial products company’s stock worth $27,127,000 after purchasing an additional 259,385 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Pentair in the 3rd quarter worth about $14,763,000. Finally, Vanguard Group Inc. lifted its position in shares of Pentair by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock worth $1,287,364,000 after buying an additional 204,416 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of recent research reports. TD Cowen raised their target price on shares of Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, April 15th. Mizuho increased their target price on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Stifel Nicolaus raised their target price on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Oppenheimer upped their price target on shares of Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

Get Our Latest Stock Analysis on PNR

Insider Transactions at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the sale, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Pentair Price Performance

NYSE PNR opened at $80.27 on Thursday. The firm has a market capitalization of $13.33 billion, a PE ratio of 21.35, a P/E/G ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. Pentair plc has a 12 month low of $57.18 and a 12 month high of $85.84. The company’s 50 day simple moving average is $81.74 and its 200 day simple moving average is $76.00.

Pentair (NYSE:PNRGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. As a group, equities research analysts forecast that Pentair plc will post 4.24 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Pentair’s dividend payout ratio (DPR) is 24.47%.

Pentair Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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