Amundi Grows Holdings in Pentair plc (NYSE:PNR)

Posted by on Jun 13th, 2023

Amundi boosted its holdings in Pentair plc (NYSE:PNR – Get Rating) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,386,563 shares of the industrial products company’s stock after purchasing an additional 367,956 shares during the quarter. Amundi owned about 3.27% of Pentair worth $255,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Two Sigma Investments LP increased its stake in Pentair by 22.6% in the 3rd quarter. Two Sigma Investments LP now owns 684,749 shares of the industrial products company’s stock valued at $27,821,000 after buying an additional 126,442 shares during the period. New York Life Investment Management LLC increased its stake in Pentair by 1.6% in the 4th quarter. New York Life Investment Management LLC now owns 26,356 shares of the industrial products company’s stock valued at $1,185,000 after buying an additional 406 shares during the period. Seven Eight Capital LP acquired a new position in Pentair in the 4th quarter valued at $289,000. AlphaCrest Capital Management LLC increased its stake in Pentair by 46.0% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 36,754 shares of the industrial products company’s stock valued at $1,493,000 after buying an additional 11,573 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in Pentair in the 4th quarter valued at $229,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Oppenheimer boosted their price objective on shares of Pentair from $70.00 to $72.00 in a research note on Friday, April 28th. Stifel Nicolaus upped their price target on shares of Pentair from $69.00 to $71.00 in a research note on Friday, April 28th. Barclays upped their price target on shares of Pentair from $65.00 to $66.00 in a research note on Monday, May 1st. StockNews.com began coverage on shares of Pentair in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, UBS Group raised shares of Pentair from a “neutral” rating to a “buy” rating and upped their price target for the stock from $53.00 to $72.00 in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.14.

Pentair Price Performance

Pentair stock opened at $59.77 on Tuesday. The firm has a market capitalization of $9.86 billion, a PE ratio of 20.06, a P/E/G ratio of 1.85 and a beta of 1.13. The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.89. The firm’s 50-day simple moving average is $56.49 and its 200 day simple moving average is $52.78. Pentair plc has a 52 week low of $38.55 and a 52 week high of $60.88.

Pentair (NYSE:PNR – Get Rating) last released its earnings results on Thursday, April 27th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $996.02 million. Pentair had a net margin of 11.88% and a return on equity of 23.09%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. On average, equities research analysts predict that Pentair plc will post 3.65 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $0.88 dividend on an annualized basis and a yield of 1.47%. Pentair’s dividend payout ratio (DPR) is 29.53%.

About Pentair

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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.

Further Reading

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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