AMF Tjanstepension AB Acquires Shares of 527,808 Pentair plc (NYSE:PNR)

AMF Tjanstepension AB bought a new stake in Pentair plc (NYSE:PNR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 527,808 shares of the industrial products company’s stock, valued at approximately $45,096,000. AMF Tjanstepension AB owned 0.32% of Pentair at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC increased its stake in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares during the period. Quent Capital LLC raised its stake in Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Operose Advisors LLC acquired a new stake in Pentair during the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Pentair by 24.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 173 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Pentair in the 4th quarter valued at approximately $69,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PNR shares. UBS Group increased their price target on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays boosted their price target on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. BNP Paribas initiated coverage on shares of Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price objective for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $91.00 price objective on shares of Pentair in a report on Friday, March 22nd. Finally, Oppenheimer increased their target price on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.67.

Insider Activity at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares in the company, valued at approximately $3,254,534.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Pentair Price Performance

NYSE:PNR traded up $0.62 during mid-day trading on Friday, hitting $76.67. 2,166,185 shares of the company’s stock traded hands, compared to its average volume of 1,572,238. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The company has a market cap of $12.73 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The firm’s 50 day simple moving average is $80.24 and its 200 day simple moving average is $77.52. Pentair plc has a 1 year low of $57.18 and a 1 year high of $85.84.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. Sell-side analysts expect that Pentair plc will post 4.24 EPS for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio is currently 24.47%.

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.