Frank Rimerman Advisors LLC Has $658,000 Holdings in Pentair plc (NYSE:PNR)

by · The Markets Daily

Frank Rimerman Advisors LLC cut its holdings in shares of Pentair plc (NYSE:PNR – Free Report) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,733 shares of the industrial products company’s stock after selling 116 shares during the period. Frank Rimerman Advisors LLC’s holdings in Pentair were worth $658,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. DekaBank Deutsche Girozentrale boosted its position in Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after buying an additional 1,228,635 shares during the last quarter. Swedbank AB bought a new position in shares of Pentair in the 1st quarter worth $97,083,000. Massachusetts Financial Services Co. MA raised its stake in 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 worth $159,655,000 after buying an additional 996,325 shares during the period. Interval Partners LP raised its stake in Pentair by 289.6% during the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after buying an additional 710,703 shares during the period. Finally, SG Americas Securities LLC raised its stake in Pentair by 360.6% during the 1st quarter. SG Americas Securities LLC now owns 601,171 shares of the industrial products company’s stock worth $51,364,000 after buying an additional 470,662 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Pentair Trading Down 0.4 %

Shares of NYSE:PNR opened at $98.96 on Monday. Pentair plc has a 12-month low of $57.40 and a 12-month high of $101.00. The stock has a market cap of $16.43 billion, a PE ratio of 26.32, a P/E/G ratio of 1.76 and a beta of 1.20. The business has a 50 day moving average of $92.82 and a 200-day moving average of $84.96. The company has a quick ratio of 0.96, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Pentair plc will post 4.27 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. Pentair’s payout ratio is 24.47%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PNR shares. UBS Group raised their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price objective on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price objective on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Mizuho lifted their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

View Our Latest Stock Report on PNR

Pentair 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.

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