Fisher Asset Management LLC Boosts Holdings in Pentair plc (NYSE:PNR)

Fisher Asset Management LLC raised its stake in shares of Pentair plc (NYSE:PNR) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,707 shares of the industrial products company’s stock after purchasing an additional 2,072 shares during the period. Fisher Asset Management LLC owned 0.09% of Pentair worth $13,760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its holdings in Pentair by 30.7% during the third quarter. Daiwa Securities Group Inc. now owns 59,880 shares of the industrial products company’s stock valued at $5,856,000 after purchasing an additional 14,057 shares in the last quarter. Marco Investment Management LLC purchased a new position in shares of Pentair in the third quarter worth about $205,000. Swedbank AB lifted its stake in shares of Pentair by 17.9% in the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after buying an additional 205,000 shares in the last quarter. Algert Global LLC purchased a new position in shares of Pentair in the third quarter worth about $479,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Pentair in the third quarter worth about $247,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Price Performance

Shares of PNR opened at $108.96 on Thursday. Pentair plc has a 1-year low of $63.09 and a 1-year high of $110.71. The stock has a market cap of $18.00 billion, a PE ratio of 27.24, a P/E/G ratio of 1.92 and a beta of 1.19. The firm has a 50-day simple moving average of $99.99 and a two-hundred day simple moving average of $88.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, analysts forecast that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is currently 23.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PNR. Wolfe Research began coverage on shares of Pentair in a research note on Tuesday. They issued an “outperform” rating and a $125.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. KeyCorp raised their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer lifted their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.38.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.