Nuveen Asset Management LLC Acquires 24,178 Shares of Pentair plc (NYSE:PNR)


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Nuveen Asset Management LLC grew its holdings in shares of Pentair plc (NYSE:PNR) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,047 shares of the industrial products company’s stock after buying an additional 24,178 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.24% of Pentair worth $21,398,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of Pentair by 2.5% in the fourth quarter. BlackRock Inc. now owns 13,390,391 shares of the industrial products company’s stock valued at $710,897,000 after acquiring an additional 325,170 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Pentair by 29.6% during the 4th quarter. Nordea Investment Management AB now owns 3,336,303 shares of the industrial products company’s stock worth $177,124,000 after purchasing an additional 761,328 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Pentair by 26.5% during the 4th quarter. Ninety One UK Ltd now owns 2,656,132 shares of the industrial products company’s stock worth $141,014,000 after purchasing an additional 556,527 shares in the last quarter. FIL Ltd boosted its holdings in shares of Pentair by 6.1% in the 4th quarter. FIL Ltd now owns 1,228,341 shares of the industrial products company’s stock valued at $65,213,000 after buying an additional 70,129 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Pentair by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,217,905 shares of the industrial products company’s stock valued at $64,659,000 after buying an additional 219,330 shares during the last quarter. Institutional investors own 80.25% of the company’s stock.

Shares of PNR stock opened at $61.50 on Thursday. The stock has a market cap of $10.21 billion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.19. Pentair plc has a 1 year low of $29.14 and a 1 year high of $63.35. The company has a current ratio of 1.18, a quick ratio of 0.69 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $59.28 and a 200 day simple moving average of $53.99.

Pentair (NYSE:PNR) last released its earnings results on Thursday, January 28th. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Pentair had a return on equity of 21.27% and a net margin of 11.87%. The firm had revenue of $796.00 million during the quarter, compared to the consensus estimate of $752.85 million. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Pentair plc will post 2.43 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Friday, April 23rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, April 22nd. Pentair’s payout ratio is presently 33.61%.

A number of equities analysts recently commented on the company. Oppenheimer lifted their price target on Pentair from $57.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. Barclays boosted their target price on Pentair from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Tuesday. Morgan Stanley raised their price target on Pentair from $56.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, January 20th. Finally, UBS Group increased their price objective on shares of Pentair from $50.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $53.43.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through two segments, Consumer Solutions; and Industrial & Flow Technologies. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

Further Reading: Retained Earnings

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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