Czech National Bank lifted its stake in shares of Pentair plc (NYSE:PNR – Free Report) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,826 shares of the industrial products company’s stock after purchasing an additional 2,113 shares during the quarter. Czech National Bank’s holdings in Pentair were worth $3,606,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbour Investments Inc. increased its stake in Pentair by 10.7% in the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 636 shares during the last quarter. Algert Global LLC purchased a new position in shares of Pentair in the 3rd quarter worth about $479,000. FMR LLC boosted its holdings in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Pentair by 47.4% in the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Pentair by 69.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 25,002 shares of the industrial products company’s stock worth $2,445,000 after purchasing an additional 10,284 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on PNR. Mizuho upped their price objective on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a report on Monday, January 6th. Finally, Citigroup dropped their target price on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.13.
Pentair Trading Up 1.4 %
PNR opened at $101.65 on Thursday. The business has a 50 day simple moving average of $104.32 and a two-hundred day simple moving average of $94.41. The firm has a market capitalization of $16.80 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a one year low of $69.42 and a one year high of $110.71.
Pentair (NYSE:PNR – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business 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%. Pentair’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. Analysts predict that Pentair plc will post 4.28 EPS for the current year.
Pentair Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio (DPR) is presently 25.00%.
Insider Activity
In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
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.
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