Ballentine Partners LLC Grows Stock Position in Pentair plc (NYSE:PNR)

Ballentine Partners LLC boosted its stake in shares of Pentair plc (NYSE:PNR) by 8.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,646 shares of the industrial products company’s stock after purchasing an additional 295 shares during the quarter. Ballentine Partners LLC’s holdings in Pentair were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PNR. Nordea Investment Management AB raised its holdings in Pentair by 191.8% in the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after acquiring an additional 46,290 shares in the last quarter. UBS Group AG lifted its position in shares of Pentair by 5.2% during the 4th quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock worth $34,847,000 after purchasing an additional 23,494 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Pentair during the fourth quarter worth $2,908,000. Point72 Europe London LLP purchased a new position in Pentair in the fourth quarter valued at $921,000. Finally, Kodai Capital Management LP acquired a new stake in Pentair in the fourth quarter valued at $173,280,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Down 7.1 %

PNR stock opened at $74.31 on Wednesday. The stock has a market capitalization of $12.34 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The company has a fifty day moving average of $80.40 and a 200-day moving average of $77.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. Pentair plc has a one year low of $57.18 and a one year high of $85.84.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, analysts expect that Pentair plc will post 4.24 EPS for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. Pentair’s payout ratio is currently 24.47%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their price objective on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada lowered their target price on shares of Pentair from $103.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday. Barclays lifted their price target on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. KeyCorp upped their price objective on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Finally, Stifel Nicolaus lifted their target price on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.67.

Insider Transactions at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.28% of the company’s stock.

About Pentair

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.