J. Safra Sarasin Holding AG Buys New Stake in Pentair plc $PNR

J. Safra Sarasin Holding AG purchased a new position in shares of 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 purchased 7,986 shares of the industrial products company’s stock, valued at approximately $885,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new stake in shares of Pentair during the 2nd quarter worth about $222,000. Farther Finance Advisors LLC raised its holdings in Pentair by 50.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,001 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 335 shares during the period. Signaturefd LLC boosted its position in Pentair by 11.5% during the second quarter. Signaturefd LLC now owns 1,245 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 128 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Pentair by 6.3% during the second quarter. V Square Quantitative Management LLC now owns 5,093 shares of the industrial products company’s stock worth $523,000 after purchasing an additional 302 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Pentair by 102.3% in the second quarter. Janney Montgomery Scott LLC now owns 246,647 shares of the industrial products company’s stock valued at $25,321,000 after purchasing an additional 124,744 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

NYSE:PNR opened at $105.18 on Thursday. The company’s 50-day moving average price is $104.99 and its 200-day moving average price is $106.58. The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. The company has a market cap of $17.21 billion, a P/E ratio of 26.70, a P/E/G ratio of 1.89 and a beta of 1.22. Pentair plc has a twelve month low of $74.25 and a twelve month high of $113.95.

Pentair Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be paid a $0.27 dividend. This is a positive change from Pentair’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.0%. Pentair’s dividend payout ratio is 27.41%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNR. Wolfe Research reaffirmed an “outperform” rating and set a $135.00 target price on shares of Pentair in a research note on Tuesday, December 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Pentair in a research report on Thursday, January 22nd. Citigroup dropped their target price on shares of Pentair from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Jefferies Financial Group raised shares of Pentair from a “hold” rating to a “buy” rating and boosted their target price for the stock from $120.00 to $135.00 in a research note on Wednesday, December 10th. Finally, Oppenheimer raised their price target on shares of Pentair from $124.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.47.

Insider Activity at Pentair

In other news, CFO Robert P. Fishman sold 7,786 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $105.42, for a total value of $820,800.12. Following the completion of the sale, the chief financial officer directly owned 63,164 shares in the company, valued at $6,658,748.88. This represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director T Michael Glenn sold 6,558 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $104.33, for a total value of $684,196.14. Following the completion of the sale, the director directly owned 31,192 shares of the company’s stock, valued at approximately $3,254,261.36. This represents a 17.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.45% of the company’s stock.

Pentair 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.