Commonwealth Bank of Australia Raises Position in Pentair PLC (PNR)

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Commonwealth Bank of Australia increased its stake in Pentair PLC (NYSE:PNR) by 32.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,484 shares of the industrial products company’s stock after purchasing an additional 8,204 shares during the quarter. Commonwealth Bank of Australia’s holdings in Pentair were worth $1,258,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Eaton Vance Management raised its position in Pentair by 0.5% in the fourth quarter. Eaton Vance Management now owns 59,581 shares of the industrial products company’s stock worth $2,251,000 after acquiring an additional 305 shares during the period. ETF Managers Group LLC raised its position in Pentair by 19.6% in the fourth quarter. ETF Managers Group LLC now owns 1,984 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 325 shares during the period. Stephens Inc. AR raised its position in Pentair by 3.7% in the fourth quarter. Stephens Inc. AR now owns 13,082 shares of the industrial products company’s stock worth $494,000 after acquiring an additional 463 shares during the period. D.A. Davidson & CO. raised its position in Pentair by 1.4% in the fourth quarter. D.A. Davidson & CO. now owns 37,688 shares of the industrial products company’s stock worth $1,424,000 after acquiring an additional 503 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Pentair by 1.3% in the fourth quarter. State of Alaska Department of Revenue now owns 46,557 shares of the industrial products company’s stock worth $1,757,000 after acquiring an additional 591 shares during the period. Institutional investors own 83.78% of the company’s stock.

Several research analysts have weighed in on PNR shares. Zacks Investment Research upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, December 20th. ValuEngine downgraded shares of Pentair from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Pentair presently has a consensus rating of “Hold” and a consensus target price of $48.40.

In other news, COO Karl R. Frykman sold 10,241 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $41.28, for a total transaction of $422,748.48. Following the sale, the chief operating officer now directly owns 60,877 shares in the company, valued at approximately $2,513,002.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ademir Sarcevic sold 1,287 shares of the firm’s stock in a transaction on Thursday, January 3rd. The shares were sold at an average price of $37.61, for a total transaction of $48,404.07. The disclosure for this sale can be found here. Insiders have sold a total of 11,794 shares of company stock worth $482,559 over the last 90 days. Insiders own 10.70% of the company’s stock.

Shares of PNR stock opened at $42.56 on Friday. The firm has a market cap of $7.31 billion, a PE ratio of 18.11, a PEG ratio of 1.61 and a beta of 1.25. Pentair PLC has a one year low of $35.30 and a one year high of $73.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 1.27.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The firm had revenue of $740.50 million for the quarter, compared to the consensus estimate of $735.74 million. Pentair had a net margin of 9.92% and a return on equity of 18.86%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.93 EPS. On average, equities analysts forecast that Pentair PLC will post 2.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.69%. Pentair’s payout ratio is 30.64%.

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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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