Principal Financial Group Inc. Acquires 11,392 Shares of Pentair plc (NYSE:PNR)

Principal Financial Group Inc. boosted its holdings in Pentair plc (NYSE:PNR) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,061 shares of the industrial products company’s stock after acquiring an additional 11,392 shares during the quarter. Principal Financial Group Inc.’s holdings in Pentair were worth $21,422,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PNR. Crewe Advisors LLC lifted its holdings in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Quarry LP raised its position in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after buying an additional 134 shares during the last quarter. Blue Trust Inc. boosted its holdings in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Pentair by 4,450.0% in the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 623 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Pentair in the 2nd quarter worth $67,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Transactions at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’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 completion of the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Pentair from $115.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen upped their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, KeyCorp lifted their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

Pentair Stock Up 0.8 %

PNR opened at $102.35 on Thursday. Pentair plc has a 12 month low of $68.08 and a 12 month high of $110.71. 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 business’s 50-day moving average price is $104.10 and its 200-day moving average price is $92.15. The company has a market cap of $16.91 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.91 and a beta of 1.20.

Pentair (NYSE:PNR) last announced 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. The business had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. On average, equities analysts expect that Pentair plc will post 4.28 EPS for the current year.

Pentair Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. This is an increase from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, January 24th. Pentair’s dividend payout ratio is 25.00%.

Pentair Company 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.