Novem Group Makes New $709,000 Investment in Pentair plc $PNR

Novem Group bought a new position in Pentair plc (NYSE:PNR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,378 shares of the industrial products company’s stock, valued at approximately $709,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PNR. Tsfg LLC purchased a new position in shares of Pentair in the 2nd quarter worth about $37,000. Sound Financial Strategies Group LLC purchased a new stake in Pentair during the 2nd quarter valued at about $38,000. Plan A Wealth LLC purchased a new stake in Pentair during the 2nd quarter valued at about $38,000. Alan B Lancz & Associates Inc. purchased a new stake in Pentair during the 2nd quarter valued at about $43,000. Finally, AlphaGrep UK Ltd bought a new stake in Pentair during the 2nd quarter valued at about $44,000. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. William Blair set a $50.00 target price on shares of Pentair in a report on Wednesday, October 14th. Robert W. Baird dropped their target price on shares of Pentair from $83.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Oppenheimer cut their price target on shares of Pentair from $115.00 to $94.00 and set an “outperform” rating on the stock in a report on Thursday, July 16th. Zacks Research upgraded shares of Pentair from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 7th. Finally, The Goldman Sachs Group reduced their price target on shares of Pentair from $73.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Pentair presently has a consensus rating of “Hold” and an average target price of $79.59.

Pentair Trading Down 1.3%

Shares of NYSE:PNR opened at $52.72 on Tuesday. The company has a market cap of $8.42 billion, a P/E ratio of 13.25, a PEG ratio of 1.36 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.45 and a quick ratio of 0.76. Pentair plc has a 1 year low of $51.13 and a 1 year high of $111.94. The stock’s fifty day moving average price is $57.81 and its 200-day moving average price is $69.54.

Pentair (NYSE:PNR) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The company had revenue of $932.60 million for the quarter, compared to analysts’ expectations of $943.24 million. During the same period last year, the firm posted $1.39 earnings per share. Pentair’s revenue was down 17.0% compared to the same quarter last year. Sell-side analysts expect that Pentair plc will post 4.64 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 6th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, October 23rd. This represents a $1.08 annualized dividend and a yield of 2.0%. Pentair’s dividend payout ratio is currently 27.14%.

Pentair Profile

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.