Gates Capital Management Inc. Has $134.07 Million Stock Position in Pentair plc (NYSE:PNR)

Gates Capital Management Inc. decreased its holdings in Pentair plc (NYSE:PNR) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,332,140 shares of the industrial products company’s stock after selling 98,109 shares during the period. Pentair comprises approximately 2.5% of Gates Capital Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Gates Capital Management Inc. owned approximately 0.81% of Pentair worth $134,067,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock worth $2,034,575,000 after acquiring an additional 148,031 shares in the last quarter. FMR LLC increased its stake in Pentair by 7.0% during the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock valued at $614,030,000 after purchasing an additional 396,581 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Pentair by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock valued at $410,240,000 after buying an additional 87,244 shares during the last quarter. Northern Trust Corp increased its stake in Pentair by 27.9% in the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock valued at $197,482,000 after buying an additional 428,184 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Pentair by 3.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,749,965 shares of the industrial products company’s stock worth $176,117,000 after buying an additional 62,926 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Trading Down 0.0 %

NYSE:PNR opened at $93.52 on Friday. The company has a market capitalization of $15.39 billion, a PE ratio of 25.01, a P/E/G ratio of 1.87 and a beta of 1.11. The stock’s 50 day moving average price is $86.52 and its 200 day moving average price is $96.46. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same quarter in the prior year, the company posted $0.94 earnings per share. On average, research analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, July 18th. Pentair’s dividend payout ratio (DPR) is presently 25.84%.

Insiders Place Their Bets

In other news, Director David A. /Wi Jones sold 6,558 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the transaction, the director now owns 26,313 shares in the company, valued at approximately $2,366,591.22. This represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on PNR. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $95.00 target price on Pentair and gave the stock a “neutral” rating in a research report on Tuesday, April 22nd. Baird R W raised Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 25th. Stifel Nicolaus cut their price target on shares of Pentair from $125.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup lowered their price objective on Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.93.

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.