Swiss Life Asset Management Ltd Acquires 10,395 Shares of Pentair plc $PNR

Swiss Life Asset Management Ltd increased its holdings in shares of Pentair plc (NYSE:PNR) by 13.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 85,786 shares of the industrial products company’s stock after purchasing an additional 10,395 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Pentair were worth $8,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wexford Capital LP bought a new stake in shares of Pentair during the third quarter worth approximately $26,000. Richardson Financial Services Inc. raised its stake in shares of Pentair by 64.9% during the third quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Pentair during the third quarter worth approximately $41,000. CoreCap Advisors LLC raised its stake in shares of Pentair by 58.8% during the third quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company’s stock worth $45,000 after buying an additional 150 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in Pentair by 86.4% in the third quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 204 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 6,493 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $103.22, for a total transaction of $670,207.46. Following the completion of the transaction, the executive vice president owned 29,096 shares in the company, valued at approximately $3,003,289.12. This represents a 18.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PNR. JPMorgan Chase & Co. lowered their target price on shares of Pentair from $132.00 to $124.00 and set an “overweight” rating for the company in a research note on Friday, January 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $125.00 target price (down from $135.00) on shares of Pentair in a research note on Tuesday, March 31st. Seaport Research Partners lowered their target price on shares of Pentair from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their target price on shares of Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Finally, Barclays lowered their target price on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.86.

Pentair Stock Down 0.7%

Pentair stock opened at $75.28 on Wednesday. Pentair plc has a twelve month low of $74.51 and a twelve month high of $113.95. The company has a 50 day moving average of $87.71 and a 200-day moving average of $98.47. The stock has a market capitalization of $12.17 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.17 by $0.05. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, July 24th. This represents a $1.08 annualized dividend and a yield of 1.4%. Pentair’s dividend payout ratio is presently 26.47%.

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.