Pentair plc (NYSE:PNR) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in Pentair plc (NYSE:PNR) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,249 shares of the industrial products company’s stock after acquiring an additional 1,093 shares during the period. Franklin Resources Inc.’s holdings in Pentair were worth $3,187,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its holdings in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 134 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. lifted its stake in shares of Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Pentair by 4,450.0% during the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 623 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in Pentair by 59.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 705 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 262 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Price Performance

Shares of NYSE:PNR opened at $102.35 on Thursday. 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 business has a 50 day moving average price of $104.10 and a 200 day moving average price of $92.15. The company has a market cap of $16.91 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.91 and a beta of 1.20. Pentair plc has a twelve month low of $68.08 and a twelve month high of $110.71.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio is 25.00%.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.28% of the company’s stock.

Analyst Ratings Changes

PNR has been the topic of several recent research reports. UBS Group lifted their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Barclays boosted their price target on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. Finally, Oppenheimer boosted 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. Six equities 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.com, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $109.38.

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.