Janus Henderson Group PLC Has $2.25 Million Holdings in Pentair plc (NYSE:PNR)

Janus Henderson Group PLC cut its position in Pentair plc (NYSE:PNR) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,004 shares of the industrial products company’s stock after selling 1,500 shares during the period. Janus Henderson Group PLC’s holdings in Pentair were worth $2,249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Pentair by 1.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after buying an additional 121 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 130 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after purchasing an additional 139 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Pentair by 5.7% during the third quarter. GAMMA Investing LLC now owns 2,923 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 158 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Performance

PNR stock opened at $108.29 on Friday. The business’s 50-day moving average price is $103.00 and its two-hundred day moving average price is $90.58. 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 has a market cap of $17.89 billion, a PE ratio of 27.07, a P/E/G ratio of 1.93 and a beta of 1.20. Pentair plc has a 1-year low of $66.77 and a 1-year high of $110.71.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, research analysts forecast that Pentair plc will post 4.28 earnings per share for the current 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 given a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.85%. Pentair’s dividend payout ratio is currently 23.00%.

Analyst Ratings Changes

PNR has been the topic of a number of research reports. Oppenheimer upped their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on shares of Pentair from $115.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen raised their target price on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.38.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

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.