Pentair PLC (PNR) Stake Decreased by ING Groep NV

ING Groep NV decreased its holdings in Pentair PLC (NYSE:PNR) by 76.8% in the third quarter, HoldingsChannel.com reports. The fund owned 4,840 shares of the industrial products company’s stock after selling 15,985 shares during the quarter. ING Groep NV’s holdings in Pentair were worth $210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Princeton Portfolio Strategies Group LLC raised its position in Pentair by 22.6% during the third quarter. Princeton Portfolio Strategies Group LLC now owns 34,480 shares of the industrial products company’s stock valued at $1,495,000 after purchasing an additional 6,365 shares during the period. Stone Ridge Asset Management LLC raised its position in Pentair by 81.8% during the third quarter. Stone Ridge Asset Management LLC now owns 37,237 shares of the industrial products company’s stock valued at $1,614,000 after purchasing an additional 16,753 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Pentair during the third quarter valued at approximately $11,260,000. American Century Companies Inc. raised its position in Pentair by 53.4% during the third quarter. American Century Companies Inc. now owns 124,251 shares of the industrial products company’s stock valued at $5,386,000 after purchasing an additional 43,263 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Pentair in the third quarter worth approximately $215,000. 89.27% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently weighed in on PNR. Zacks Investment Research upgraded Pentair from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Pentair from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. ValuEngine upgraded Pentair from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. Finally, Stifel Nicolaus upgraded Pentair from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Pentair has a consensus rating of “Hold” and a consensus price target of $56.00.

In other Pentair news, Director Glynis Bryan sold 17,133 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $770,985.00. Following the transaction, the director now directly owns 35,115 shares in the company, valued at approximately $1,580,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.90% of the company’s stock.

Shares of NYSE PNR opened at $41.79 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. Pentair PLC has a fifty-two week low of $36.06 and a fifty-two week high of $50.25. The company has a market capitalization of $7.22 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $711.40 million for the quarter, compared to the consensus estimate of $698.88 million. Pentair had a return on equity of 16.35% and a net margin of 11.04%. Pentair’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. On average, equities research analysts anticipate that Pentair PLC will post 2.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were issued a dividend of $0.175 per share. The ex-dividend date was Thursday, October 18th. This represents a $0.70 annualized dividend and a yield of 1.68%. Pentair’s payout ratio is currently 19.83%.

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Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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