Pentair PLC (PNR) Stake Lifted by Commonwealth Bank of Australia

Commonwealth Bank of Australia lifted its position in shares of Pentair PLC (NYSE:PNR) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,280 shares of the industrial products company’s stock after purchasing an additional 1,200 shares during the period. Commonwealth Bank of Australia’s holdings in Pentair were worth $1,091,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fort L.P. acquired a new position in Pentair in the 2nd quarter valued at about $118,000. Alps Advisors Inc. acquired a new position in Pentair in the 2nd quarter valued at about $205,000. Capital Advisors Ltd. LLC acquired a new position in Pentair in the 3rd quarter valued at about $142,000. NumerixS Investment Technologies Inc acquired a new position in Pentair in the 2nd quarter valued at about $146,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Pentair in the 3rd quarter valued at about $168,000. Institutional investors own 89.27% of the company’s stock.

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

A number of brokerages recently commented on PNR. Zacks Investment Research upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. ValuEngine upgraded shares of Pentair from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. Finally, Stifel Nicolaus upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $56.00.

Shares of NYSE:PNR opened at $41.79 on Friday. Pentair PLC has a 12-month low of $36.06 and a 12-month high of $50.25. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30. 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 (NYSE:PNR) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. Pentair had a net margin of 11.04% and a return on equity of 16.35%. The firm had revenue of $711.40 million for the quarter, compared to analyst estimates of $698.88 million. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Pentair PLC will post 2.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.68%. Pentair’s payout ratio is presently 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.

Further Reading: What do investors mean by earnings per share?

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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