Pentair plc (NYSE:PNR) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its position in Pentair plc (NYSE:PNR) by 28.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,599 shares of the industrial products company’s stock after acquiring an additional 48,527 shares during the quarter. Wellington Management Group LLP owned about 0.13% of Pentair worth $16,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PNR. Lindbrook Capital LLC lifted its position in Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares during the period. Quent Capital LLC grew its position in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after buying an additional 213 shares during the last quarter. Operose Advisors LLC purchased a new position in Pentair during the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Pentair by 24.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 173 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Pentair in the fourth quarter valued at about $69,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

PNR has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. UBS Group lifted their price target on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. BNP Paribas initiated coverage on Pentair in a report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price objective on the stock. Stifel Nicolaus raised their target price on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Barclays upped 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. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average target price of $89.67.

Pentair Trading Up 1.1 %

Shares of Pentair stock opened at $75.10 on Thursday. Pentair plc has a 1 year low of $57.18 and a 1 year high of $85.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The business has a 50 day moving average price of $80.32 and a 200 day moving average price of $77.46. The company has a market capitalization of $12.47 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.28 and a beta of 1.22.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company 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 business posted $0.91 earnings per share. Pentair’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Pentair plc will post 4.24 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid 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 1.23%. Pentair’s dividend payout ratio is currently 24.47%.

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.