Pallas Capital Advisors LLC Takes Position in Pentair plc (NYSE:PNR)

Pallas Capital Advisors LLC bought a new position in Pentair plc (NYSE:PNR) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,222 shares of the industrial products company’s stock, valued at approximately $618,000.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Pentair by 352.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares during the last quarter. Swedbank AB bought a new stake in Pentair during the first quarter worth $97,083,000. Massachusetts Financial Services Co. MA grew its holdings in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after buying an additional 996,325 shares in the last quarter. Interval Partners LP lifted its stake in Pentair by 289.6% during the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after acquiring an additional 710,703 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Pentair by 360.6% during the 1st quarter. SG Americas Securities LLC now owns 601,171 shares of the industrial products company’s stock worth $51,364,000 after acquiring an additional 470,662 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the subject of several analyst reports. KeyCorp increased their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Stock Performance

Shares of PNR stock opened at $99.37 on Thursday. Pentair plc has a 12 month low of $57.45 and a 12 month high of $101.00. The stock has a market capitalization of $16.42 billion, a P/E ratio of 24.84, a PEG ratio of 1.76 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $93.40 and its 200 day moving average is $85.21.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s payout ratio is 23.00%.

Pentair 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.