SG Americas Securities LLC Raises Holdings in Pentair plc (NYSE:PNR)

SG Americas Securities LLC boosted its stake in shares of Pentair plc (NYSE:PNR) by 140.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,247 shares of the industrial products company’s stock after acquiring an additional 20,597 shares during the quarter. SG Americas Securities LLC’s holdings in Pentair were worth $3,547,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PNR. American Century Companies Inc. increased its holdings in shares of Pentair by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 15,720 shares of the industrial products company’s stock valued at $1,205,000 after purchasing an additional 2,164 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Pentair in the second quarter valued at $1,328,000. Public Sector Pension Investment Board increased its holdings in Pentair by 70.7% in the second quarter. Public Sector Pension Investment Board now owns 6,447 shares of the industrial products company’s stock valued at $494,000 after buying an additional 2,670 shares in the last quarter. Bank of Montreal Can raised its position in shares of Pentair by 25.9% in the second quarter. Bank of Montreal Can now owns 216,529 shares of the industrial products company’s stock worth $17,320,000 after acquiring an additional 44,526 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Pentair by 60.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 31,664 shares of the industrial products company’s stock worth $2,428,000 after acquiring an additional 11,929 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity at Pentair

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Stifel Nicolaus reduced their target price on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday. KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Barclays upped their price objective on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, TD Cowen lifted their target price on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $111.07.

Pentair Stock Performance

Shares of Pentair stock opened at $103.02 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The business’s 50 day moving average price is $104.11 and its 200 day moving average price is $95.88. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.67 and a beta of 1.21. Pentair plc has a one year low of $70.98 and a one year high of $110.71.

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This is a boost from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.97%. Pentair’s payout ratio is presently 23.00%.

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.