Massachusetts Financial Services Co. MA Has $258.48 Million Stock Position in Pentair plc $PNR

Massachusetts Financial Services Co. MA grew its holdings in Pentair plc (NYSE:PNR) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,333,689 shares of the industrial products company’s stock after acquiring an additional 149,858 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.43% of Pentair worth $258,479,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Richardson Financial Services Inc. boosted its holdings in Pentair by 64.9% in the 3rd quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 98 shares during the period. First Horizon Advisors Inc. raised its position in shares of Pentair by 105.4% in the second quarter. First Horizon Advisors Inc. now owns 345 shares of the industrial products company’s stock valued at $35,000 after buying an additional 177 shares in the last quarter. North Star Investment Management Corp. grew its position in Pentair by 91.5% during the second quarter. North Star Investment Management Corp. now owns 404 shares of the industrial products company’s stock worth $41,000 after buying an additional 193 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in Pentair during the 2nd quarter worth $45,000. Finally, CoreCap Advisors LLC raised its holdings in Pentair by 58.8% in the 3rd quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 150 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNR has been the subject of a number of analyst reports. TD Cowen reaffirmed a “sell” rating and issued a $90.00 price target (down previously from $110.00) on shares of Pentair in a research note on Monday, January 5th. BNP Paribas lowered shares of Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 target price on the stock. in a report on Wednesday, January 7th. Wall Street Zen raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Sunday. Oppenheimer lifted their price objective on shares of Pentair from $124.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, UBS Group upped their target price on Pentair from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.75.

Pentair Stock Performance

NYSE PNR opened at $107.32 on Tuesday. The firm’s fifty day moving average price is $104.71 and its two-hundred day moving average price is $106.57. The stock has a market cap of $17.56 billion, a PE ratio of 27.24, a PEG ratio of 1.88 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 1.46. Pentair plc has a fifty-two week low of $74.25 and a fifty-two week high of $113.95.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.06. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Pentair had a return on equity of 21.83% and a net margin of 15.84%.Pentair’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 EPS. On average, equities analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be given a $0.27 dividend. This is a boost from Pentair’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, January 23rd. Pentair’s dividend payout ratio is 25.38%.

Insider Transactions at Pentair

In other Pentair news, CFO Robert P. Fishman sold 7,786 shares of Pentair stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $105.42, for a total transaction of $820,800.12. Following the transaction, the chief financial officer directly owned 63,164 shares of the company’s stock, valued at approximately $6,658,748.88. The trade was a 10.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director T Michael Glenn sold 6,558 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $104.33, for a total value of $684,196.14. Following the completion of the sale, the director owned 31,192 shares in the company, valued at $3,254,261.36. This trade represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.45% of the company’s stock.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.