Wahed Invest LLC Boosts Position in Pentair plc (NYSE:PNR)

Wahed Invest LLC lifted its stake in shares of Pentair plc (NYSE:PNR) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,007 shares of the industrial products company’s stock after acquiring an additional 392 shares during the period. Wahed Invest LLC’s holdings in Pentair were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Weiss Asset Management LP purchased a new position in shares of Pentair during the 3rd quarter worth $2,254,000. State Street Corp raised its holdings in shares of Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after acquiring an additional 259,922 shares during the period. Quantinno Capital Management LP increased its position in shares of Pentair by 64.2% during the 3rd quarter. Quantinno Capital Management LP now owns 19,297 shares of the industrial products company’s stock worth $1,887,000 after purchasing an additional 7,546 shares during the last quarter. Quarry LP increased its position in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Pentair during the 3rd quarter worth about $1,035,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

PNR stock opened at $108.08 on Friday. The business has a 50 day moving average price of $102.04 and a 200 day moving average price of $89.88. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.94 and a beta of 1.20. Pentair plc has a fifty-two week low of $66.18 and a fifty-two week high of $110.71. 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 (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share. Equities research analysts anticipate that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Insider Buying and Selling

In other Pentair 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 value of $357,615.96. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

PNR has been the subject of a number of recent analyst reports. Barclays raised their price objective on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted 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. Finally, KeyCorp lifted their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.13.

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.