DekaBank Deutsche Girozentrale decreased its position in shares of Pentair PLC (NYSE:PNR) by 2.4% in the third quarter, Holdings Channel reports. The fund owned 360,824 shares of the industrial products company’s stock after selling 8,785 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Pentair were worth $15,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in PNR. Wells Fargo & Company MN lifted its position in Pentair by 39.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,619,549 shares of the industrial products company’s stock worth $152,309,000 after acquiring an additional 1,017,611 shares during the last quarter. Parnassus Investments CA raised its position in shares of Pentair by 13.6% during the second quarter. Parnassus Investments CA now owns 7,973,507 shares of the industrial products company’s stock valued at $335,525,000 after buying an additional 955,374 shares during the last quarter. Sound Shore Management Inc. CT raised its position in shares of Pentair by 31.4% during the second quarter. Sound Shore Management Inc. CT now owns 2,942,681 shares of the industrial products company’s stock valued at $123,828,000 after buying an additional 703,138 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Pentair by 56.5% during the third quarter. Bank of New York Mellon Corp now owns 1,774,904 shares of the industrial products company’s stock valued at $76,942,000 after buying an additional 640,849 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Pentair by 273.5% during the third quarter. Prudential Financial Inc. now owns 855,530 shares of the industrial products company’s stock valued at $37,087,000 after buying an additional 626,490 shares during the last quarter. 89.27% of the stock is owned by hedge funds and other institutional investors.
PNR has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Pentair from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Monday, July 30th. ValuEngine lowered shares of Pentair from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Stifel Nicolaus upped their price objective on shares of Pentair from $44.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.
NYSE PNR opened at $41.79 on Monday. The stock has a market capitalization of $7.25 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30. Pentair PLC has a twelve month low of $36.06 and a twelve month high of $50.25. 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 posted its earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The business had revenue of $711.40 million for the quarter, compared to analysts’ expectations of $698.88 million. Pentair had a net margin of 11.04% and a return on equity of 16.35%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, research analysts anticipate 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. Investors of record on Friday, October 19th were paid a $0.175 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.70 dividend on an annualized basis and a yield of 1.68%. Pentair’s payout ratio is currently 19.83%.
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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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