Zuckerman Investment Group LLC decreased its holdings in Pentair plc (NYSE:PNR – Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,506 shares of the industrial products company’s stock after selling 11,331 shares during the quarter. Pentair accounts for about 2.4% of Zuckerman Investment Group LLC’s holdings, making the stock its 13th biggest holding. Zuckerman Investment Group LLC owned about 0.14% of Pentair worth $25,642,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its stake in Pentair by 5.9% during the 2nd quarter. State Street Corp now owns 8,970,940 shares of the industrial products company’s stock worth $920,957,000 after buying an additional 501,506 shares during the period. Nordea Investment Management AB boosted its position in Pentair by 173.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,837,753 shares of the industrial products company’s stock valued at $311,046,000 after buying an additional 1,800,669 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Pentair by 6.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,333,689 shares of the industrial products company’s stock valued at $258,479,000 after buying an additional 149,858 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Pentair by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,565,882 shares of the industrial products company’s stock worth $160,751,000 after acquiring an additional 428,200 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Pentair by 3.0% in the third quarter. Bessemer Group Inc. now owns 1,230,727 shares of the industrial products company’s stock worth $136,315,000 after acquiring an additional 36,063 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.
Pentair Stock Performance
Shares of PNR stock opened at $88.28 on Friday. The company has a market cap of $14.41 billion, a P/E ratio of 22.29, a PEG ratio of 1.56 and a beta of 1.23. The firm has a fifty day moving average price of $100.67 and a 200 day moving average price of $105.14. The company has a current ratio of 1.61, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. Pentair plc has a 12 month low of $74.25 and a 12 month high of $113.95.
Pentair Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, April 17th. Pentair’s dividend payout ratio (DPR) is 27.27%.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Robert W. Baird set a $117.00 price objective on Pentair in a research note on Wednesday, February 4th. Barclays set a $102.00 target price on Pentair in a research note on Thursday, February 5th. Oppenheimer restated an “outperform” rating and set a $122.00 price target (down from $128.00) on shares of Pentair in a report on Wednesday, February 4th. Citigroup reduced their price target on Pentair from $126.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $114.47.
View Our Latest Stock Report on PNR
Insider Activity at Pentair
In related news, EVP Philip M. Rolchigo sold 6,493 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $103.22, for a total transaction of $670,207.46. Following the completion of the sale, the executive vice president owned 29,096 shares in the company, valued at $3,003,289.12. The trade was a 18.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Speetzen sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $99.99, for a total value of $699,930.00. Following the completion of the transaction, the director directly owned 8,290 shares of the company’s stock, valued at $828,917.10. This trade represents a 45.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.
Pentair Company Profile
Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.
Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.
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