Calamos Advisors LLC purchased a new stake in Pentair plc (NYSE:PNR – Free Report) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 164,234 shares of the industrial products company’s stock, valued at approximately $8,703,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNR. Kestra Advisory Services LLC acquired a new stake in shares of Pentair during the third quarter worth $270,000. Commonwealth Equity Services LLC acquired a new position in Pentair in the 3rd quarter valued at $2,406,000. Bfsg LLC acquired a new position in Pentair in the 3rd quarter valued at $3,563,000. Chicago Partners Investment Group LLC increased its stake in Pentair by 24.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,695 shares of the industrial products company’s stock valued at $426,000 after buying an additional 1,505 shares during the period. Finally, Covestor Ltd purchased a new position in Pentair during the 3rd quarter worth $39,000. 92.37% of the stock is owned by hedge funds and other institutional investors.
Pentair Price Performance
Pentair stock opened at $68.11 on Friday. The company has a market cap of $10.87 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.01. Pentair plc has a one year low of $51.13 and a one year high of $109.89. The business has a fifty day moving average of $57.45 and a two-hundred day moving average of $75.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.47.
Pentair (NYSE:PNR – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $976.40 million for the quarter, compared to analysts’ expectations of $963.71 million. Pentair had a net margin of 15.44% and a return on equity of 20.10%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. As a group, analysts predict that Pentair plc will post 4.70 earnings per share for the current fiscal year.
Pentair Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. Pentair’s payout ratio is currently 28.65%.
Wall Street Analysts Forecast Growth
PNR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $81.00 target price on shares of Pentair in a research note on Monday, July 27th. BNP Paribas Exane upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and set a $65.00 price target on the stock in a research note on Wednesday, October 28th. Mizuho cut their price target on shares of Pentair from $85.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. TD Cowen raised shares of Pentair from a “sell” rating to a “hold” rating and cut their price target for the stock from $65.00 to $55.00 in a report on Wednesday, October 14th. Finally, Seaport Research Partners downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.59.
View Our Latest Research Report on Pentair
Pentair Profile
Pentair plc is a water solutions company that develops and supplies products and services for managing, treating and moving water. Its offerings include water filtration and treatment systems, pumps, valves and related equipment for residential, commercial, industrial and agricultural customers.
The company also serves the pool and spa market, providing equipment and systems such as pumps, filters, heaters and water-care products. Pentair serves customers in markets around the world.
Founded in 1966, Pentair has evolved from its origins as a diversified manufacturer into a company focused on water-related businesses.
Recommended Stories
- Five stocks we like better than Pentair
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair plc (NYSE:PNR – Free Report).
Receive News & Ratings for Pentair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair and related companies with MarketBeat.com's FREE daily email newsletter.
