Pentair plc (NYSE:PNR) Shares Sold by ING Groep NV

ING Groep NV reduced its position in shares of Pentair plc (NYSE:PNR) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,134 shares of the industrial products company’s stock after selling 207 shares during the period. ING Groep NV’s holdings in Pentair were worth $2,164,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of Pentair by 0.7% during the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after buying an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Pentair by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after acquiring an additional 53,787 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Pentair by 6.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after purchasing an additional 105,724 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

PNR has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. KeyCorp boosted their price target on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. Mizuho boosted their target price on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.13.

Pentair Trading Up 0.1 %

NYSE:PNR opened at $105.92 on Friday. The stock has a fifty day simple moving average of $97.70 and a 200 day simple moving average of $87.31. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a 1-year low of $62.04 and a 1-year high of $107.78.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. Sell-side analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is 23.00%.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’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 transaction of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair Company 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.