Lansforsakringar Fondforvaltning AB publ boosted its position in Pentair plc (NYSE:PNR – Free Report) by 18.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,678 shares of the industrial products company’s stock after purchasing an additional 19,467 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Pentair were worth $13,920,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC bought a new stake in shares of Pentair in the second quarter valued at about $222,000. Forum Financial Management LP raised its stake in Pentair by 12.2% in the 2nd quarter. Forum Financial Management LP now owns 3,226 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 352 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Pentair by 0.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 75,757 shares of the industrial products company’s stock valued at $7,777,000 after purchasing an additional 420 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Pentair by 4.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,238 shares of the industrial products company’s stock worth $44,682,000 after purchasing an additional 18,164 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Pentair during the second quarter worth approximately $343,000. Institutional investors own 92.37% of the company’s stock.
Pentair Stock Down 0.5%
Shares of NYSE PNR opened at $101.56 on Tuesday. The company has a 50 day simple moving average of $103.35 and a 200 day simple moving average of $106.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.61 and a quick ratio of 0.95. Pentair plc has a 1 year low of $74.25 and a 1 year high of $113.95. The firm has a market cap of $16.62 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.22.
Pentair Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a $1.08 annualized dividend and a yield of 1.1%. Pentair’s payout ratio is presently 27.27%.
Insider Transactions at Pentair
In related news, Director T Michael Glenn sold 6,558 shares of Pentair stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $104.33, for a total value of $684,196.14. Following the transaction, the director directly owned 31,192 shares of the company’s stock, valued at $3,254,261.36. The trade was a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 sale, the director owned 8,290 shares in the company, valued at $828,917.10. The trade was a 45.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.45% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on PNR. Royal Bank Of Canada set a $117.00 price target on Pentair in a research note on Wednesday, February 4th. Citigroup lowered their price objective on shares of Pentair from $126.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Pentair in a research note on Wednesday, February 4th. BNP Paribas Exane downgraded shares of Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 price target on the stock. in a research note on Wednesday, January 7th. Finally, Barclays set a $102.00 price target on shares of Pentair in a report on Thursday, February 5th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Pentair presently has an average rating of “Hold” and a consensus target price of $114.47.
Get Our Latest Analysis on Pentair
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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