iA Global Asset Management Inc. Increases Stock Holdings in Pentair plc (NYSE:PNR)

iA Global Asset Management Inc. grew its holdings in shares of Pentair plc (NYSE:PNR) by 13.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,609 shares of the industrial products company’s stock after purchasing an additional 421 shares during the period. iA Global Asset Management Inc.’s holdings in Pentair were worth $353,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Harbour Investments Inc. grew its stake in Pentair by 10.7% during the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 636 shares in the last quarter. Swedbank AB increased its stake in shares of Pentair by 0.9% during the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock worth $87,885,000 after buying an additional 10,000 shares during the period. ORG Partners LLC acquired a new stake in Pentair in the second quarter valued at approximately $631,000. FMR LLC lifted its stake in Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after acquiring an additional 258,134 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Pentair during the 3rd quarter worth approximately $479,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PNR shares. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. Stifel Nicolaus lifted 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. Mizuho lifted their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Oppenheimer lifted their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their target price on Pentair from $93.00 to $103.00 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.69.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Pentair Trading Up 0.1 %

Shares of PNR opened at $108.25 on Tuesday. The firm has a market capitalization of $17.89 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a 12-month low of $66.77 and a 12-month high of $110.71. The stock’s 50-day moving average price is $102.24 and its 200 day moving average price is $90.14.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same period in the prior year, the company earned $0.94 EPS. Pentair’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.85%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Pentair 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.