New York State Common Retirement Fund Has $10.92 Million Stock Holdings in Pentair plc (NYSE:PNR)

New York State Common Retirement Fund cut its stake in Pentair plc (NYSE:PNRFree Report) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,572 shares of the industrial products company’s stock after selling 29,744 shares during the period. New York State Common Retirement Fund owned approximately 0.10% of Pentair worth $10,915,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. increased its stake in shares of Pentair by 74.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 488,376 shares of the industrial products company’s stock valued at $31,622,000 after purchasing an additional 207,940 shares during the last quarter. Field & Main Bank bought a new stake in Pentair during the 3rd quarter worth $68,000. Vanguard Personalized Indexing Management LLC grew its position in Pentair by 8.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,414 shares of the industrial products company’s stock worth $1,254,000 after acquiring an additional 1,449 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Pentair by 62.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 703 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 271 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Pentair by 137.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,994 shares of the industrial products company’s stock worth $2,007,000 after acquiring an additional 17,932 shares during the last quarter. 88.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNR has been the topic of a number of research reports. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. UBS Group lifted their target price on Pentair from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. cut their target price on Pentair from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Finally, Barclays lifted their target price on Pentair from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Pentair presently has an average rating of “Moderate Buy” and a consensus price target of $77.08.

Check Out Our Latest Stock Report on PNR

Pentair Stock Performance

PNR stock opened at $74.10 on Thursday. The business has a 50 day moving average of $70.63 and a 200-day moving average of $67.15. Pentair plc has a 12-month low of $50.15 and a 12-month high of $75.41. The firm has a market cap of $12.25 billion, a PE ratio of 19.76, a P/E/G ratio of 1.68 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNRGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.01. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The business had revenue of $984.60 million during the quarter, compared to analyst estimates of $975.36 million. During the same period in the prior year, the company earned $0.82 earnings per share. Pentair’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Pentair plc will post 4.22 earnings per share for the current year.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Wednesday, January 10th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, January 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. This is an increase from Pentair’s previous quarterly dividend of $0.22. Pentair’s dividend payout ratio is currently 24.53%.

Insiders Place Their Bets

In related news, Director David A. /Wi Jones sold 2,260 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $67.85, for a total value of $153,341.00. Following the sale, the director now owns 23,081 shares in the company, valued at $1,566,045.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

About Pentair

(Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.

Further Reading

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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