Pentair plc (NYSE:PNR) Stock Position Increased by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of Pentair plc (NYSE:PNRGet Rating) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,496 shares of the industrial products company’s stock after buying an additional 433 shares during the quarter. Van ECK Associates Corp’s holdings in Pentair were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Pentair by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 18,837,080 shares of the industrial products company’s stock worth $1,021,158,000 after buying an additional 85,431 shares in the last quarter. State Street Corp raised its position in shares of Pentair by 15.5% during the 2nd quarter. State Street Corp now owns 10,168,937 shares of the industrial products company’s stock worth $465,432,000 after buying an additional 1,366,650 shares in the last quarter. Invesco Ltd. raised its position in shares of Pentair by 8.2% during the 1st quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock worth $344,045,000 after buying an additional 479,701 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Pentair by 31.7% during the 2nd quarter. ProShare Advisors LLC now owns 3,189,105 shares of the industrial products company’s stock worth $145,965,000 after buying an additional 766,974 shares in the last quarter. Finally, Amundi raised its position in shares of Pentair by 13.7% during the 2nd quarter. Amundi now owns 3,152,907 shares of the industrial products company’s stock worth $143,378,000 after buying an additional 380,163 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

Pentair Stock Performance

Pentair stock opened at $50.52 on Monday. The firm’s 50 day simple moving average is $45.42 and its 200-day simple moving average is $45.14. The company has a market cap of $8.31 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.42 and a quick ratio of 0.71. Pentair plc has a fifty-two week low of $38.55 and a fifty-two week high of $68.03.

Pentair (NYSE:PNRGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The industrial products company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Pentair had a net margin of 13.02% and a return on equity of 24.47%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that Pentair plc will post 3.65 EPS for the current year.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 3rd. Stockholders of record on Friday, January 20th will be paid a dividend of $0.22 per share. This is a positive change from Pentair’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Pentair’s dividend payout ratio is 26.17%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PNR. Mizuho upgraded shares of Pentair from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $60.00 in a research report on Friday. Barclays lifted their price objective on shares of Pentair from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, January 5th. TheStreet cut shares of Pentair from a “b-” rating to a “c+” rating in a research note on Friday, October 7th. Citigroup lowered their price objective on shares of Pentair from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, December 9th. Finally, Stifel Nicolaus raised shares of Pentair from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $57.00 in a research note on Monday, December 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.20.

Insider Activity at Pentair

In other Pentair news, Director Glynis Bryan sold 3,947 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $45.14, for a total transaction of $178,167.58. Following the transaction, the director now directly owns 27,609 shares of the company’s stock, valued at $1,246,270.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by company insiders.

Pentair Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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