13,378 Shares in Pentair plc $PNR Acquired by Novem Group

Novem Group bought a new position in Pentair plc (NYSE:PNR) in the third quarter, HoldingsChannel.com reports. The fund bought 13,378 shares of the industrial products company’s stock, valued at approximately $709,000.

A number of other hedge funds have also added to or reduced their stakes in PNR. Amundi lifted its holdings in shares of Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock valued at $369,208,000 after buying an additional 491,758 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Pentair by 1,459.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock worth $110,617,000 after buying an additional 1,189,122 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Pentair by 52.9% in the first quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company’s stock worth $105,844,000 after acquiring an additional 420,140 shares during the period. California Public Employees Retirement System grew its holdings in shares of Pentair by 57.2% in the first quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company’s stock worth $43,840,000 after acquiring an additional 183,089 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Pentair by 7.1% in the first quarter. Swiss National Bank now owns 480,287 shares of the industrial products company’s stock worth $41,838,000 after acquiring an additional 31,900 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Down 1.3%

PNR opened at $52.72 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. Pentair plc has a 1-year low of $51.13 and a 1-year high of $111.94. The company has a market capitalization of $8.42 billion, a PE ratio of 13.25, a PEG ratio of 1.36 and a beta of 1.04. The firm’s 50 day simple moving average is $57.81 and its two-hundred day simple moving average is $69.54.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. Pentair had a net margin of 16.24% and a return on equity of 20.62%. The business had revenue of $932.60 million for the quarter, compared to analysts’ expectations of $943.24 million. During the same quarter last year, the company posted $1.39 EPS. The company’s revenue was down 17.0% compared to the same quarter last year. As a group, equities analysts forecast that Pentair plc will post 4.64 EPS for the current year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 23rd. Pentair’s dividend payout ratio (DPR) is currently 27.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PNR shares. Jefferies Financial Group upgraded Pentair to a “strong-buy” rating in a research report on Wednesday, October 7th. Mizuho dropped their target price on Pentair from $85.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. William Blair set a $50.00 target price on Pentair in a research report on Wednesday, October 14th. BNP Paribas Exane restated an “underperform” rating and set a $64.00 price target (down from $75.00) on shares of Pentair in a research note on Thursday, July 16th. Finally, Zacks Research raised shares of Pentair from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.59.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.