Geode Capital Management LLC Boosts Stake in Pentair plc (NYSE:PNR)

Geode Capital Management LLC boosted its stake in Pentair plc (NYSE:PNR) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,919,713 shares of the industrial products company’s stock after buying an additional 29,268 shares during the quarter. Geode Capital Management LLC owned approximately 1.76% of Pentair worth $196,503,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. lifted its stake in Pentair by 22.4% in the 1st quarter. Citigroup Inc. now owns 263,588 shares of the industrial products company’s stock valued at $16,427,000 after buying an additional 48,192 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Pentair by 5.0% during the 1st quarter. Baird Financial Group Inc. now owns 317,740 shares of the industrial products company’s stock worth $19,801,000 after purchasing an additional 15,110 shares during the period. Stephens Inc. AR lifted its stake in shares of Pentair by 51.1% during the 1st quarter. Stephens Inc. AR now owns 25,381 shares of the industrial products company’s stock worth $1,582,000 after purchasing an additional 8,589 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Pentair by 53.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 17,770 shares of the industrial products company’s stock worth $1,199,000 after purchasing an additional 6,171 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Pentair by 278.0% during the 1st quarter. Allianz Asset Management GmbH now owns 45,529 shares of the industrial products company’s stock worth $2,837,000 after purchasing an additional 33,485 shares during the period. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PNR stock opened at $69.82 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.19. Pentair plc has a one year low of $48.16 and a one year high of $80.40. The company’s 50-day simple moving average is $76.13 and its 200-day simple moving average is $70.27. The stock has a market capitalization of $11.58 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.54 and a beta of 1.17.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 27th. The industrial products company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. Pentair had a net margin of 13.95% and a return on equity of 23.69%. The business had revenue of $941.10 million for the quarter, compared to analysts’ expectations of $912.55 million. During the same quarter last year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 31.9% compared to the same quarter last year. As a group, research analysts forecast that Pentair plc will post 3.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 5th. Shareholders of record on Friday, October 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. Pentair’s dividend payout ratio is currently 32.00%.

A number of research analysts have weighed in on the company. Morgan Stanley increased their price target on Pentair from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 28th. Boenning Scattergood started coverage on Pentair in a report on Tuesday, July 13th. They set an “outperform” rating and a $100.00 price objective for the company. UBS Group upped their price objective on Pentair from $68.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, September 23rd. Zacks Investment Research downgraded Pentair from a “buy” rating to a “hold” rating and set a $81.00 price objective for the company. in a report on Monday, August 30th. Finally, Cowen upped their price objective on Pentair from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, June 17th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.29.

Pentair Company Profile

Pentair Plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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