Pentair plc (NYSE:PNR) Holdings Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in shares of Pentair plc (NYSE:PNR) by 81.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 305,294 shares of the industrial products company’s stock after buying an additional 136,971 shares during the period. BNP Paribas Financial Markets’ holdings in Pentair were worth $29,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. LRI Investments LLC acquired a new position in Pentair during the 1st quarter worth $58,000. Cetera Investment Advisers raised its position in Pentair by 222.8% in the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after acquiring an additional 34,959 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Pentair by 64.3% in the 1st quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company’s stock valued at $593,000 after acquiring an additional 2,718 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Pentair by 443.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 77,215 shares of the industrial products company’s stock valued at $6,598,000 after purchasing an additional 63,012 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Pentair by 19.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,046 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 170 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were 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 directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Mizuho boosted 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. JPMorgan Chase & Co. increased their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.38.

Pentair Stock Performance

Shares of PNR opened at $108.99 on Friday. The company has a market capitalization of $18.01 billion, a PE ratio of 27.25, a PEG ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The company’s 50 day moving average price is $100.57 and its 200 day moving average price is $88.85. Pentair plc has a 52 week low of $63.38 and a 52 week high of $110.71.

Pentair (NYSE:PNR) last posted its quarterly 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. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 earnings per share. Research analysts expect that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. Pentair’s dividend payout ratio is 23.00%.

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.