Pentair plc (NYSE:PNR) Shares Bought by BNP Paribas Financial Markets

by · The Markets Daily

BNP Paribas Financial Markets grew its holdings in shares of Pentair plc (NYSE:PNR – Free Report) by 81.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 305,294 shares of the industrial products company’s stock after purchasing an additional 136,971 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.18% of Pentair worth $29,855,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new stake in Pentair in the 2nd quarter worth about $25,000. Crewe Advisors LLC boosted its position 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 worth $26,000 after acquiring an additional 267 shares during the last quarter. Blue Trust Inc. grew its holdings in Pentair by 165.2% in the third 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 during the period. Family Firm Inc. acquired a new position in Pentair during the second quarter worth approximately $48,000. Finally, LRI Investments LLC purchased a new position in Pentair during the first quarter worth approximately $58,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PNR. Mizuho boosted their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, TD Cowen increased their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

View Our Latest Stock Analysis on Pentair

Pentair Price Performance

Shares of NYSE PNR opened at $108.99 on Friday. 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 plc has a fifty-two week low of $63.38 and a fifty-two week high of $110.71. The business has a 50 day moving average price of $100.57 and a two-hundred day moving average price of $88.85. The firm has a market cap of $18.01 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19.

Pentair (NYSE:PNR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS 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 firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair Company Profile

(Free Report)

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.

See Also

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