Pentair plc (NYSE:PNR) Stock Position Lifted by Dakota Wealth Management

Dakota Wealth Management boosted its stake in Pentair plc (NYSE:PNR) by 190.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,574 shares of the industrial products company’s stock after buying an additional 115,137 shares during the quarter. Dakota Wealth Management’s holdings in Pentair were worth $17,169,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Millennium Management LLC increased its stake in shares of Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after acquiring an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Pentair by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after purchasing an additional 53,787 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 worth $159,655,000 after purchasing an additional 996,325 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Pentair by 6.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after purchasing an additional 105,724 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Pentair by 352.5% during 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 buying an additional 1,228,635 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

Shares of PNR stock opened at $99.39 on Friday. The company has a market capitalization of $16.45 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.76 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Pentair plc has a 12 month low of $57.18 and a 12 month high of $99.96. The stock has a 50 day moving average of $92.53 and a two-hundred day moving average of $84.83.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the previous year, the company earned $0.94 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that Pentair plc will post 4.27 EPS for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a report on Wednesday. TD Cowen boosted their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price target on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average price target of $104.80.

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.