Point72 Asset Management L.P. Trims Holdings in Pentair plc (NYSE:PNR)

Point72 Asset Management L.P. trimmed its position in Pentair plc (NYSE:PNR) by 39.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,446 shares of the industrial products company’s stock after selling 162,892 shares during the period. Point72 Asset Management L.P. owned about 0.15% of Pentair worth $19,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Pentair during the 4th quarter worth about $9,177,000. Corient Private Wealth LLC lifted its holdings in shares of Pentair by 8.4% during the 4th quarter. Corient Private Wealth LLC now owns 19,381 shares of the industrial products company’s stock worth $1,409,000 after acquiring an additional 1,503 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Pentair by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 50,947 shares of the industrial products company’s stock worth $3,704,000 after acquiring an additional 5,896 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Pentair by 112.0% during the 4th quarter. Hsbc Holdings PLC now owns 119,050 shares of the industrial products company’s stock worth $8,660,000 after acquiring an additional 62,900 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Pentair by 4.9% during the 4th quarter. TD Asset Management Inc now owns 44,351 shares of the industrial products company’s stock worth $3,225,000 after acquiring an additional 2,090 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Down 0.6 %

Shares of NYSE:PNR opened at $96.99 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. Pentair plc has a 52-week low of $57.18 and a 52-week high of $98.23. The company has a 50 day moving average of $87.61 and a two-hundred day moving average of $82.92. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is currently 24.47%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PNR shares. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised their price target on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus raised their price target on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Oppenheimer raised their price target on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and an average target price of $92.87.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.