Bank of New York Mellon Corp Has $107.80 Million Stock Holdings in Pentair plc $PNR

Bank of New York Mellon Corp lifted its position in shares of Pentair plc (NYSE:PNR) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 973,268 shares of the industrial products company’s stock after purchasing an additional 8,063 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.59% of Pentair worth $107,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC bought a new position in Pentair during the 2nd quarter valued at about $222,000. HB Wealth Management LLC increased its stake in shares of Pentair by 10.9% in the 2nd quarter. HB Wealth Management LLC now owns 3,996 shares of the industrial products company’s stock valued at $410,000 after buying an additional 392 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Pentair by 8.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,114 shares of the industrial products company’s stock worth $3,297,000 after purchasing an additional 2,614 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of Pentair during the 2nd quarter worth approximately $201,000. Finally, DAVENPORT & Co LLC raised its position in shares of Pentair by 4.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 3,134 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 142 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pentair

In other Pentair news, Director T Michael Glenn sold 6,558 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $104.33, for a total transaction of $684,196.14. Following the sale, the director directly owned 31,192 shares in the company, valued at $3,254,261.36. This represents a 17.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert P. Fishman sold 7,786 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $105.42, for a total transaction of $820,800.12. Following the sale, the chief financial officer owned 63,164 shares in the company, valued at $6,658,748.88. This represents a 10.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PNR shares. Wolfe Research reissued an “outperform” rating and set a $135.00 price target on shares of Pentair in a research report on Tuesday, December 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Pentair in a report on Thursday, January 22nd. Oppenheimer raised their target price on shares of Pentair from $124.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Barclays downgraded Pentair from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $127.00 to $115.00 in a research note on Thursday, December 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Pentair from $132.00 to $124.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

Pentair Trading Down 0.5%

PNR stock opened at $105.37 on Monday. Pentair plc has a 52 week low of $74.25 and a 52 week high of $113.95. The company has a market capitalization of $17.24 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The company’s 50-day simple moving average is $105.08 and its 200 day simple moving average is $106.59. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 23rd will be given a $0.27 dividend. The ex-dividend date is Friday, January 23rd. This is a positive change from Pentair’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.0%. Pentair’s dividend payout ratio (DPR) is presently 27.41%.

Pentair Profile

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.