Advisors Asset Management Inc. Lowers Holdings in Pentair PLC (PNR)

Advisors Asset Management Inc. decreased its position in shares of Pentair PLC (NYSE:PNR) by 61.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,797 shares of the industrial products company’s stock after selling 7,591 shares during the period. Advisors Asset Management Inc.’s holdings in Pentair were worth $681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fort L.P. purchased a new stake in Pentair during the second quarter valued at about $118,000. NumerixS Investment Technologies Inc purchased a new stake in Pentair during the second quarter valued at about $146,000. Point72 Asia Hong Kong Ltd purchased a new stake in Pentair during the first quarter valued at about $170,000. NorthRock Partners LLC purchased a new stake in Pentair during the second quarter valued at about $204,000. Finally, Alps Advisors Inc. purchased a new stake in Pentair during the second quarter valued at about $205,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

NYSE PNR opened at $42.73 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.89 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $7.60 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.34. Pentair PLC has a 1 year low of $41.00 and a 1 year high of $50.25.

Pentair (NYSE:PNR) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $780.60 million for the quarter, compared to analysts’ expectations of $786.63 million. Pentair had a return on equity of 15.19% and a net margin of 10.12%. Pentair’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. As a group, analysts anticipate that Pentair PLC will post 2.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, October 19th will be paid a $0.175 dividend. The ex-dividend date is Thursday, October 18th. This represents a $0.70 annualized dividend and a dividend yield of 1.64%. Pentair’s payout ratio is presently 19.83%.

A number of research analysts have recently issued reports on PNR shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Pentair in a research note on Friday, July 13th. Seaport Global Securities reaffirmed a “buy” rating and set a $48.00 price objective on shares of Pentair in a research note on Friday, July 27th. Zacks Investment Research raised Pentair from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Monday, July 30th. TheStreet cut Pentair from a “b” rating to a “c+” rating in a research note on Thursday, June 21st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $44.00 price objective on shares of Pentair in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.92.

In related news, Director Glynis Bryan sold 17,133 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $770,985.00. Following the sale, the director now directly owns 35,115 shares of the company’s stock, valued at $1,580,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $42.15, for a total value of $71,655,000.00. Following the completion of the sale, the director now directly owns 2,862 shares in the company, valued at $120,633.30. The disclosure for this sale can be found here. 10.70% of the stock is owned by company insiders.

Pentair Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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