Pentair plc (NYSE:PNR) Stake Raised by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in Pentair plc (NYSE:PNR) by 11.9% during the third quarter, Holdings Channel.com reports. The firm owned 1,489,715 shares of the industrial products company’s stock after buying an additional 158,433 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Pentair were worth $143,823,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Millennium Management LLC grew its holdings 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 valued at $225,779,000 after acquiring an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Pentair by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after buying an additional 53,787 shares in the last quarter. Massachusetts Financial Services Co. MA increased 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 worth $159,655,000 after buying an additional 996,325 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after acquiring an additional 105,724 shares in the last quarter. Finally, Swedbank AB grew its position in Pentair by 17.9% in the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after acquiring an additional 205,000 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Mizuho raised their price target on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their target price on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday. Oppenheimer increased their price objective on Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, UBS Group boosted their target price on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Stock Performance

NYSE PNR opened at $98.96 on Friday. The company’s fifty day moving average is $92.82 and its two-hundred day moving average is $84.94. Pentair plc has a 52-week low of $57.40 and a 52-week high of $101.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.96. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period last year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.27 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is presently 24.47%.

About Pentair

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.