Pentair plc (NYSE:PNR) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its holdings in Pentair plc (NYSE:PNR) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,875 shares of the industrial products company’s stock after buying an additional 5,826 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Pentair were worth $5,371,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. M&T Bank Corp grew its position in Pentair by 0.5% during the 4th quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock worth $2,369,000 after purchasing an additional 172 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Pentair by 24.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 173 shares in the last quarter. Ieq Capital LLC grew its position in Pentair by 5.0% during the 4th quarter. Ieq Capital LLC now owns 4,426 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 209 shares in the last quarter. Finally, Quent Capital LLC grew its position in Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays boosted their price target on shares of Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Royal Bank of Canada boosted their price target on shares of Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Stifel Nicolaus boosted their price target on shares of Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Northcoast Research upgraded shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and an average target price of $89.93.

Pentair Stock Performance

Pentair stock traded down $1.57 on Friday, reaching $77.33. 1,202,934 shares of the stock were exchanged, compared to its average volume of 1,155,994. The stock has a market cap of $12.84 billion, a PE ratio of 20.57, a PEG ratio of 1.36 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Pentair plc has a twelve month low of $57.18 and a twelve month high of $85.84. The firm has a fifty day moving average price of $80.85 and a two-hundred day moving average price of $76.68.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Sell-side analysts anticipate that Pentair plc will post 4.24 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio is 24.47%.

Insiders Place Their Bets

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.