Perpetual Ltd Cuts Position in Pentair plc (NYSE:PNR)

Perpetual Ltd lessened its stake in Pentair plc (NYSE:PNR) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,844 shares of the industrial products company’s stock after selling 358 shares during the quarter. Perpetual Ltd owned 0.08% of Pentair worth $13,675,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Pentair in the 2nd quarter valued at about $25,000. Crewe Advisors LLC grew its stake in Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 267 shares during the last quarter. Family Firm Inc. acquired a new stake in Pentair in the 2nd quarter valued at about $48,000. LRI Investments LLC acquired a new stake in Pentair in the 1st quarter valued at about $56,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pentair in the 2nd quarter valued at about $67,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Up 0.6 %

Shares of PNR stock opened at $96.99 on Thursday. The stock has a market cap of $16.10 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. Pentair plc has a one year low of $57.18 and a one year high of $98.23. The stock has a fifty day moving average price of $89.23 and a 200 day moving average price of $83.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96.

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

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is currently 24.47%.

Analyst Ratings Changes

Several research firms have issued reports on PNR. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. The Goldman Sachs Group raised their price target on shares of Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their price target on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $93.47.

Pentair 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.