Pentair plc (NYSE:PNR) Stock Position Decreased by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in Pentair plc (NYSE:PNR) by 65.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,550 shares of the industrial products company’s stock after selling 10,713 shares during the period. Mackenzie Financial Corp’s holdings in Pentair were worth $426,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 128 shares during the period. Fifth Third Bancorp grew its position in shares of Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 129 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Pentair by 4.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 140 shares during the period. Institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

PNR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada raised their target price on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Stifel Nicolaus upped their price objective on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.47.

Pentair Trading Up 0.3 %

Pentair stock opened at $95.88 on Friday. Pentair plc has a 1 year low of $57.18 and a 1 year high of $98.23. The firm’s 50 day moving average price is $88.72 and its two-hundred day moving average price is $83.44. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. Pentair’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts predict that Pentair plc will post 4.26 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, October 18th. Pentair’s payout ratio is 24.47%.

Pentair Company Profile

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.