Marco Investment Management LLC Takes Position in Pentair plc (NYSE:PNR)

Marco Investment Management LLC acquired a new position in shares of Pentair plc (NYSE:PNR) in the third quarter, HoldingsChannel reports. The firm acquired 2,100 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other institutional investors have also recently added to or reduced their stakes in PNR. Swedbank AB raised its position in shares of Pentair by 17.9% in the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock valued at $132,141,000 after buying an additional 205,000 shares during the last quarter. Algert Global LLC purchased a new stake in Pentair in the 3rd quarter worth approximately $479,000. Kingsview Wealth Management LLC acquired a new position in Pentair in the 3rd quarter valued at $247,000. Cerity Partners LLC lifted its stake in shares of Pentair by 130.3% during the 3rd quarter. Cerity Partners LLC now owns 32,160 shares of the industrial products company’s stock worth $3,145,000 after purchasing an additional 18,196 shares during the period. Finally, Blackhawk Capital Partners LLC. boosted its holdings in shares of Pentair by 3.6% during the third quarter. Blackhawk Capital Partners LLC. now owns 5,382 shares of the industrial products company’s stock worth $526,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

PNR stock opened at $106.93 on Monday. The firm has a market cap of $17.67 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. Pentair plc has a 1 year low of $62.63 and a 1 year high of $107.78. The stock has a 50-day simple moving average of $99.38 and a 200-day simple moving average of $88.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. On average, equities analysts predict 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. Stockholders of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated 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 transaction, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.28% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the topic of several recent analyst reports. Mizuho increased 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. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Oppenheimer increased their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus target price of $105.13.

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.