Pentair plc (NYSE:PNR) Position Boosted by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in Pentair plc (NYSE:PNR) by 69.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,502 shares of the industrial products company’s stock after buying an additional 97,172 shares during the quarter. Nordea Investment Management AB owned approximately 0.14% of Pentair worth $23,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNR. Massachusetts Financial Services Co. MA grew its position in shares of Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after buying an additional 996,325 shares during the last quarter. Interval Partners LP grew its holdings in shares of Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after purchasing an additional 710,703 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock valued at $43,212,000 after purchasing an additional 395,962 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Pentair during the 3rd quarter worth approximately $26,748,000. Finally, State Street Corp lifted its holdings in shares of Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after purchasing an additional 259,922 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analysts Set New Price Targets

PNR has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Barclays boosted their target price on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price target 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, KeyCorp reiterated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research report on Monday. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $109.38.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Pentair Trading Up 0.7 %

Shares of PNR stock opened at $99.41 on Thursday. The stock has a 50-day simple moving average of $104.41 and a 200 day simple moving average of $93.66. The stock has a market capitalization of $16.43 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.91 and a beta of 1.21. Pentair plc has a fifty-two week low of $68.69 and a fifty-two week high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share 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 company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the prior year, the company earned $0.94 EPS. Pentair’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio is currently 25.00%.

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.