Trexquant Investment LP increased its stake in shares of Pentair plc (NYSE:PNR – Get Rating) by 391.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,719 shares of the industrial products company’s stock after buying an additional 25,268 shares during the quarter. Trexquant Investment LP’s holdings in Pentair were worth $1,289,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Eisler Capital UK Ltd. bought a new stake in Pentair during the third quarter worth $27,000. TCI Wealth Advisors Inc. grew its holdings in Pentair by 162.0% during the third quarter. TCI Wealth Advisors Inc. now owns 752 shares of the industrial products company’s stock worth $31,000 after buying an additional 465 shares in the last quarter. Ancora Advisors LLC bought a new stake in Pentair during the first quarter worth $56,000. Wipfli Financial Advisors LLC bought a new stake in Pentair during the third quarter worth $45,000. Finally, Quadrant Capital Group LLC grew its holdings in Pentair by 88.0% during the third quarter. Quadrant Capital Group LLC now owns 1,397 shares of the industrial products company’s stock worth $57,000 after buying an additional 654 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.
Analysts Set New Price Targets
PNR has been the subject of a number of recent analyst reports. Cowen upped their price objective on Pentair from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Loop Capital upped their price objective on Pentair from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. Oppenheimer upped their price objective on Pentair from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. Barclays upped their price objective on Pentair from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, February 1st. Finally, Stifel Nicolaus upped their price objective on Pentair from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.31.
Pentair Stock Performance
Pentair (NYSE:PNR – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $993.68 million. Pentair had a return on equity of 23.40% and a net margin of 11.67%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 EPS. Research analysts forecast that Pentair plc will post 3.54 EPS for the current fiscal year.
Pentair Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 5th. Investors of record on Friday, April 21st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $0.88 dividend on an annualized basis and a yield of 1.68%. Pentair’s dividend payout ratio (DPR) is 30.45%.
Insider Buying and Selling
In related news, Director Glynis Bryan sold 3,947 shares of the stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $45.14, for a total transaction of $178,167.58. Following the sale, the director now owns 27,609 shares of the company’s stock, valued at approximately $1,246,270.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is currently owned by insiders.
About Pentair
Pentair plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.
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