Trium Capital LLP bought a new position in shares of Pentair plc (NYSE:PNR – Free Report) in the third quarter, HoldingsChannel reports. The institutional investor bought 12,533 shares of the industrial products company’s stock, valued at approximately $1,388,000. Pentair comprises about 0.5% of Trium Capital LLP’s holdings, making the stock its 23rd largest holding.
Several other large investors have also made changes to their positions in the company. CWM LLC raised its holdings in Pentair by 138.3% during the 3rd quarter. CWM LLC now owns 49,064 shares of the industrial products company’s stock worth $5,434,000 after purchasing an additional 28,477 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Pentair by 3,428.7% during the third quarter. Pacer Advisors Inc. now owns 512,402 shares of the industrial products company’s stock worth $56,754,000 after buying an additional 497,881 shares during the last quarter. Norden Group LLC lifted its holdings in Pentair by 55.2% in the third quarter. Norden Group LLC now owns 5,103 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,815 shares during the period. World Investment Advisors bought a new position in Pentair in the third quarter valued at approximately $253,000. Finally, Swedbank AB grew its holdings in Pentair by 11.9% during the 3rd quarter. Swedbank AB now owns 952,729 shares of the industrial products company’s stock worth $105,524,000 after acquiring an additional 101,257 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.
Pentair Stock Down 0.1%
Shares of Pentair stock opened at $105.38 on Friday. The company has a market capitalization of $17.24 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 2.03 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.46 and a quick ratio of 0.82. The business has a 50-day moving average of $106.00 and a two-hundred day moving average of $106.00. Pentair plc has a 1 year low of $74.25 and a 1 year high of $113.95.
Pentair Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 23rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.0%. This is a boost from Pentair’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 23rd. Pentair’s dividend payout ratio is currently 25.38%.
Wall Street Analyst Weigh In
PNR has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Pentair from $116.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Jefferies Financial Group upgraded 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 report on Wednesday, December 10th. Oppenheimer upped their price target on Pentair from $124.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, Wolfe Research restated an “outperform” rating and set a $135.00 price objective on shares of Pentair in a report on Tuesday, December 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.07.
View Our Latest Analysis on PNR
Insider Buying and Selling at Pentair
In related news, CFO Robert P. Fishman sold 7,786 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $105.42, for a total transaction of $820,800.12. Following the sale, the chief financial officer directly owned 63,164 shares in the company, valued at $6,658,748.88. This trade represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director T Michael Glenn sold 6,558 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $104.33, for a total transaction of $684,196.14. Following the completion of the sale, the director directly owned 31,192 shares in the company, valued at $3,254,261.36. This represents a 17.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate 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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