Generali Asset Management SPA SGR lowered its holdings in Pentair plc (NYSE:PNR – Free Report) by 18.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,988 shares of the industrial products company’s stock after selling 4,431 shares during the period. Generali Asset Management SPA SGR’s holdings in Pentair were worth $2,052,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PNR. Valeo Financial Advisors LLC purchased a new stake in shares of Pentair in the second quarter valued at $102,945,000. Ameriprise Financial Inc. grew its position in Pentair by 373.8% during the first quarter. Ameriprise Financial Inc. now owns 1,137,682 shares of the industrial products company’s stock valued at $99,523,000 after acquiring an additional 897,585 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Pentair by 19.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,129,805 shares of the industrial products company’s stock valued at $361,275,000 after acquiring an additional 661,154 shares during the period. Pacer Advisors Inc. grew its position in Pentair by 4,231.6% during the first quarter. Pacer Advisors Inc. now owns 622,185 shares of the industrial products company’s stock valued at $54,429,000 after acquiring an additional 607,821 shares during the period. Finally, Amundi grew its position in Pentair by 13.6% during the first quarter. Amundi now owns 4,974,612 shares of the industrial products company’s stock valued at $412,033,000 after acquiring an additional 594,989 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.
Pentair Trading Down 1.5%
Shares of PNR opened at $108.65 on Friday. The stock’s 50-day moving average is $108.93 and its two-hundred day moving average is $100.66. The stock has a market cap of $17.81 billion, a PE ratio of 29.69, a P/E/G ratio of 2.09 and a beta of 1.10. Pentair plc has a 12 month low of $74.25 and a 12 month high of $113.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.45 and a quick ratio of 0.84.
Pentair Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Pentair’s payout ratio is 27.32%.
Analysts Set New Price Targets
A number of research firms have issued reports on PNR. Robert W. Baird boosted their price target on Pentair from $107.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Pentair in a research report on Wednesday, October 8th. Bank of America downgraded Pentair from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $106.00 to $100.00 in a research report on Tuesday, July 29th. Citigroup boosted their price target on Pentair from $126.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.21.
Get Our Latest Research Report on PNR
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.
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