Man Group plc Has $18.30 Million Stock Holdings in Pentair plc (NYSE:PNR)

Man Group plc increased its position in shares of Pentair plc (NYSE:PNR) by 72.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,875 shares of the industrial products company’s stock after acquiring an additional 76,564 shares during the quarter. Man Group plc’s holdings in Pentair were worth $18,304,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Parvin Asset Management LLC bought a new stake in Pentair in the fourth quarter valued at about $25,000. SJS Investment Consulting Inc. increased its holdings in Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 294 shares during the last quarter. Colonial Trust Co SC increased its holdings in Pentair by 230.8% in the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 240 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Pentair in the fourth quarter valued at about $55,000. Finally, Intact Investment Management Inc. bought a new stake in Pentair in the fourth quarter valued at about $60,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of recent analyst reports. Barclays upped their price objective on Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Citigroup dropped their price objective on Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a report on Monday, April 14th. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $95.00 price target on Pentair and gave the stock a “neutral” rating in a report on Tuesday, April 22nd. Finally, Mizuho set a $100.00 price target on Pentair in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $107.14.

Insider Transactions at Pentair

In other news, Director David A. /Wi Jones sold 6,558 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the transaction, the director now directly owns 26,313 shares of the company’s stock, valued at $2,366,591.22. This represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.45% of the stock is owned by insiders.

Pentair Stock Up 3.4%

PNR stock opened at $101.12 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The stock has a market capitalization of $16.64 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.87 and a beta of 1.11. The business has a 50-day moving average of $87.57 and a 200-day moving average of $96.45. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, sell-side analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. Pentair’s dividend payout ratio is currently 25.84%.

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.