Pentair plc $PNR Shares Newly Acquired by Outfitters Financial LLC

Outfitters Financial LLC purchased a new stake in Pentair plc (NYSE:PNR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,995 shares of the industrial products company’s stock, valued at approximately $1,060,000.

Several other large investors have also recently bought and sold shares of PNR. Amundi lifted its position in Pentair by 13.1% during the first quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock worth $369,208,000 after acquiring an additional 491,758 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Pentair by 1,459.8% in the first quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock valued at $110,617,000 after purchasing an additional 1,189,122 shares during the last quarter. First Trust Advisors LP grew its position in shares of Pentair by 52.9% in the first quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company’s stock valued at $105,844,000 after purchasing an additional 420,140 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Pentair by 57.2% in the first quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company’s stock valued at $43,840,000 after purchasing an additional 183,089 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Pentair by 7.1% during the first quarter. Swiss National Bank now owns 480,287 shares of the industrial products company’s stock worth $41,838,000 after purchasing an additional 31,900 shares during the period. 92.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNR has been the subject of several research reports. Stifel Nicolaus reissued a “hold” rating and set a $65.00 price target (down from $103.00) on shares of Pentair in a report on Thursday, July 16th. Zacks Research raised Pentair from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 7th. Royal Bank Of Canada lowered their price objective on Pentair from $73.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 14th. The Goldman Sachs Group lowered their price objective on Pentair from $73.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Finally, Citigroup dropped their target price on Pentair from $85.00 to $69.00 and set a “buy” rating for the company in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.19.

Pentair Stock Performance

Shares of PNR traded down $0.14 during mid-day trading on Friday, hitting $55.30. 3,035,261 shares of the company’s stock were exchanged, compared to its average volume of 2,561,704. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.43. Pentair plc has a 52 week low of $51.13 and a 52 week high of $111.94. The stock’s 50-day simple moving average is $56.82 and its 200-day simple moving average is $68.76. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.04.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The business had revenue of $932.60 million during the quarter, compared to analysts’ expectations of $943.24 million. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 earnings per share. On average, equities research analysts expect that Pentair plc will post 4.63 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.08 annualized dividend and a yield of 2.0%. Pentair’s payout ratio is currently 27.14%.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.