Handelsbanken Fonder AB Grows Stock Position in Pentair plc (NYSE:PNR)

Handelsbanken Fonder AB grew its position in shares of Pentair plc (NYSE:PNR) by 21.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,900 shares of the industrial products company’s stock after purchasing an additional 7,300 shares during the period. Handelsbanken Fonder AB’s holdings in Pentair were worth $4,000,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PNR. Rafferty Asset Management LLC increased its stake in Pentair by 5.4% during the 4th quarter. Rafferty Asset Management LLC now owns 19,832 shares of the industrial products company’s stock worth $1,442,000 after buying an additional 1,012 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Pentair by 207.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,942 shares of the industrial products company’s stock valued at $1,523,000 after acquiring an additional 14,127 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Pentair by 2.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 20,315 shares of the industrial products company’s stock worth $1,477,000 after acquiring an additional 431 shares during the last quarter. Cibc World Markets Corp lifted its stake in shares of Pentair by 133.4% in the fourth quarter. Cibc World Markets Corp now owns 21,271 shares of the industrial products company’s stock worth $1,547,000 after acquiring an additional 12,158 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Pentair by 644.4% in the fourth quarter. Schroder Investment Management Group now owns 213,075 shares of the industrial products company’s stock valued at $15,493,000 after purchasing an additional 184,453 shares during the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNR shares. Oppenheimer lifted their price objective on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their target price on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their price target on Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.47.

Pentair Stock Performance

PNR stock opened at $96.42 on Wednesday. Pentair plc has a 1 year low of $57.18 and a 1 year high of $98.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.71 and a beta of 1.20. The stock’s fifty day moving average is $89.05 and its two-hundred day moving average is $83.62.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts predict that Pentair plc will post 4.26 EPS for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid 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 is Friday, October 18th. Pentair’s dividend payout ratio is currently 24.47%.

About Pentair

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.