American International Group Inc. grew its holdings in shares of Pentair PLC (NYSE:PNR) by 38.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,922 shares of the industrial products company’s stock after acquiring an additional 28,066 shares during the period. American International Group Inc. owned about 0.06% of Pentair worth $4,375,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Gateway Investment Advisers LLC grew its stake in shares of Pentair by 15.5% during the third quarter. Gateway Investment Advisers LLC now owns 222,765 shares of the industrial products company’s stock valued at $9,657,000 after acquiring an additional 29,934 shares in the last quarter. Millennium Management LLC grew its stake in shares of Pentair by 215.0% during the second quarter. Millennium Management LLC now owns 251,442 shares of the industrial products company’s stock valued at $10,581,000 after acquiring an additional 171,629 shares in the last quarter. Marshwinds Advisory Co. acquired a new stake in shares of Pentair during the third quarter valued at about $200,000. Great West Life Assurance Co. Can grew its stake in shares of Pentair by 246.1% during the second quarter. Great West Life Assurance Co. Can now owns 426,826 shares of the industrial products company’s stock valued at $17,993,000 after acquiring an additional 303,517 shares in the last quarter. Finally, Korea Investment CORP grew its stake in shares of Pentair by 256.4% during the second quarter. Korea Investment CORP now owns 36,002 shares of the industrial products company’s stock valued at $1,515,000 after acquiring an additional 25,900 shares in the last quarter. Institutional investors own 85.79% of the company’s stock.
NYSE:PNR opened at $39.72 on Friday. The stock has a market capitalization of $7.04 billion, a P/E ratio of 11.25, a PEG ratio of 1.56 and a beta of 1.30. Pentair PLC has a one year low of $36.06 and a one year high of $50.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.40 and a quick ratio of 0.85.
Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The business had revenue of $711.40 million during 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%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. On average, analysts predict that Pentair PLC will post 2.33 EPS for the current year.
In related news, Director Glynis Bryan sold 17,133 shares of Pentair stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $770,985.00. Following the completion of the transaction, the director now directly owns 35,115 shares in the company, valued at $1,580,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.90% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on PNR shares. Zacks Investment Research restated a “buy” rating and set a $47.00 target price on shares of Pentair in a research note on Wednesday, November 14th. Stifel Nicolaus upgraded Pentair from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, October 24th. Finally, JPMorgan Chase & Co. raised their target price on Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $56.08.
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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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