Sumitomo Mitsui Trust Group Inc. Has $41.16 Million Position in Pentair plc (NYSE:PNR)

Sumitomo Mitsui Trust Group Inc. raised its position in Pentair plc (NYSE:PNR) by 1.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 420,887 shares of the industrial products company’s stock after purchasing an additional 6,943 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pentair were worth $41,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its stake in shares of Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 636 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in Pentair in the 3rd quarter valued at about $256,000. Assetmark Inc. grew its position in shares of Pentair by 332.5% during the 3rd quarter. Assetmark Inc. now owns 1,319 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 1,014 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Pentair during the third quarter worth approximately $253,000. Finally, Leavell Investment Management Inc. raised its position in shares of Pentair by 24.3% in the third quarter. Leavell Investment Management Inc. now owns 3,976 shares of the industrial products company’s stock valued at $389,000 after buying an additional 776 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

Shares of PNR opened at $105.92 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The stock has a market cap of $17.50 billion, a PE ratio of 26.48, a PEG ratio of 1.90 and a beta of 1.19. Pentair plc has a 12-month low of $62.04 and a 12-month high of $107.78. The business has a 50-day simple moving average of $97.70 and a two-hundred day simple moving average of $87.25.

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

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. Pentair’s payout ratio is 23.00%.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PNR has been the topic of a number of recent research reports. UBS Group raised their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price target on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer upped their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays raised their target price on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

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.