Assetmark Inc. Has $129,000 Stake in Pentair plc (NYSE:PNR)

Assetmark Inc. grew its holdings in Pentair plc (NYSE:PNR) by 332.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,319 shares of the industrial products company’s stock after purchasing an additional 1,014 shares during the period. Assetmark Inc.’s holdings in Pentair were worth $129,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PNR. DekaBank Deutsche Girozentrale increased its holdings in shares of Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after purchasing an additional 1,228,635 shares during the period. Swedbank AB acquired a new position in shares of Pentair in the 1st quarter valued at about $97,083,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Pentair by 91.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after purchasing an additional 996,325 shares during the period. Interval Partners LP increased its holdings in shares of Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after purchasing an additional 710,703 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Pentair by 44.7% in the second quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock worth $51,589,000 after buying an additional 207,830 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

PNR has been the topic of a number of research reports. The Goldman Sachs Group increased their price objective on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen increased their price objective on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays increased their price objective on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and an average price target of $105.13.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Pentair Stock Up 0.1 %

PNR opened at $105.92 on Monday. Pentair plc has a 1-year low of $62.04 and a 1-year high of $107.78. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.89 and a beta of 1.19. The business has a 50 day moving average of $97.70 and a 200-day moving average of $87.36.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. During the same period in the prior year, the business earned $0.94 earnings per share. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.87%. Pentair’s dividend payout ratio is 23.00%.

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.