abrdn plc Has $70.33 Million Holdings in Pentair plc (NYSE:PNR)

abrdn plc grew its stake in Pentair plc (NYSE:PNR) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 723,220 shares of the industrial products company’s stock after purchasing an additional 38,329 shares during the quarter. abrdn plc’s holdings in Pentair were worth $70,330,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Pentair by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 451,655 shares of the industrial products company’s stock worth $38,589,000 after purchasing an additional 4,861 shares during the period. Norden Group LLC bought a new position in Pentair during the 1st quarter worth $1,103,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Pentair by 4.1% during the first quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after buying an additional 140 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Pentair by 6.1% in the first quarter. Commonwealth Equity Services LLC now owns 34,914 shares of the industrial products company’s stock valued at $2,983,000 after acquiring an additional 2,020 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Pentair in the first quarter valued at about $238,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Up 0.1 %

PNR stock opened at $99.10 on Wednesday. The firm has a 50-day moving average price of $93.40 and a 200-day moving average price of $85.21. Pentair plc has a 12 month low of $57.45 and a 12 month high of $101.00. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $16.37 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, equities research analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. Pentair’s dividend payout ratio is currently 23.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on PNR. Stifel Nicolaus lifted their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen lifted their price target on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Mizuho increased their price target on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Oppenheimer raised their price objective on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six equities research 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 presently has an average rating of “Moderate Buy” and an average price target of $104.80.

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.