Advisor Group Holdings Inc. Purchases 3,029 Shares of Pentair plc (NYSE:PNR)

Advisor Group Holdings Inc. grew its stake in shares of Pentair plc (NYSE:PNR) by 6.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,376 shares of the industrial products company’s stock after buying an additional 3,029 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Pentair were worth $3,442,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Pentair by 1.3% during the second quarter. Vanguard Group Inc. now owns 17,555,106 shares of the industrial products company’s stock worth $1,184,795,000 after buying an additional 228,989 shares during the last quarter. BlackRock Inc. grew its stake in shares of Pentair by 3.7% during the second quarter. BlackRock Inc. now owns 14,161,618 shares of the industrial products company’s stock worth $955,767,000 after buying an additional 510,073 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Pentair by 109.1% during the third quarter. Nordea Investment Management AB now owns 7,996,936 shares of the industrial products company’s stock worth $598,050,000 after buying an additional 4,172,259 shares during the last quarter. Invesco Ltd. grew its stake in shares of Pentair by 0.4% during the second quarter. Invesco Ltd. now owns 6,586,216 shares of the industrial products company’s stock worth $444,505,000 after buying an additional 23,197 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Pentair by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,919,713 shares of the industrial products company’s stock worth $196,503,000 after buying an additional 29,268 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. Barclays boosted their target price on shares of Pentair from $64.00 to $69.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 27th. Seaport Global Securities cut shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 27th. Morgan Stanley reduced their price objective on shares of Pentair from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Friday. UBS Group boosted their price objective on shares of Pentair from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, September 23rd. Finally, Seaport Research Partners cut shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 27th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $79.93.

PNR stock opened at $66.11 on Friday. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.36 and a beta of 1.10. The company has a quick ratio of 0.73, a current ratio of 1.23 and a debt-to-equity ratio of 0.30. Pentair plc has a 12-month low of $53.15 and a 12-month high of $80.40. The company’s fifty day simple moving average is $73.21 and its 200 day simple moving average is $73.72.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 26th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. Pentair had a net margin of 14.20% and a return on equity of 24.35%. The business had revenue of $969.20 million for the quarter, compared to analyst estimates of $940.76 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. Pentair’s revenue for the quarter was up 21.4% on a year-over-year basis. Research analysts expect that Pentair plc will post 3.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 4th. Stockholders of record on Friday, January 21st will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, January 20th. This represents a $0.84 annualized dividend and a dividend yield of 1.27%. This is a positive change from Pentair’s previous quarterly dividend of $0.20. Pentair’s dividend payout ratio is currently 26.40%.

About Pentair

Pentair Plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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