Comerica Bank boosted its position in Pentair plc (NYSE:PNR – Get Rating) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,529 shares of the industrial products company’s stock after acquiring an additional 739 shares during the quarter. Comerica Bank’s holdings in Pentair were worth $1,713,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in PNR. Impax Asset Management Group plc increased its stake in Pentair by 10.7% in the fourth quarter. Impax Asset Management Group plc now owns 10,057,875 shares of the industrial products company’s stock valued at $734,526,000 after acquiring an additional 971,852 shares during the last quarter. Robeco Schweiz AG grew its stake in shares of Pentair by 55.8% during the fourth quarter. Robeco Schweiz AG now owns 1,887,508 shares of the industrial products company’s stock valued at $137,845,000 after buying an additional 675,785 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Pentair by 40.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,096,780 shares of the industrial products company’s stock worth $153,127,000 after buying an additional 602,162 shares during the period. BlackRock Inc. lifted its stake in shares of Pentair by 3.5% in the 4th quarter. BlackRock Inc. now owns 15,017,964 shares of the industrial products company’s stock valued at $1,096,761,000 after acquiring an additional 513,750 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Pentair by 3,385.4% during the 4th quarter. Millennium Management LLC now owns 517,588 shares of the industrial products company’s stock valued at $37,799,000 after acquiring an additional 502,738 shares during the period. Institutional investors own 94.70% of the company’s stock.
Analyst Upgrades and Downgrades
PNR has been the subject of several recent research reports. StockNews.com began coverage on Pentair in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley dropped their price target on shares of Pentair from $49.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, July 15th. Cowen lowered their price objective on shares of Pentair from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, April 22nd. Cowen lowered their price objective on shares of Pentair from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, April 22nd. Finally, Mizuho lowered their price objective on shares of Pentair from $54.00 to $48.00 in a research note on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Pentair currently has an average rating of “Hold” and a consensus target price of $70.00.
Pentair Price Performance
Pentair Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 22nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, July 21st. Pentair’s dividend payout ratio (DPR) is presently 25.93%.
Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. 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.
- Get a free copy of the StockNews.com research report on Pentair (PNR)
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