Pentair plc (NYSE:PNR) Shares Purchased by Bank Julius Baer & Co. Ltd Zurich

Posted by Defense World Staff on Oct 10th, 2023

Pentair logo Bank Julius Baer & Co. Ltd Zurich boosted its position in Pentair plc (NYSE:PNR – Free Report) by 40.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,152 shares of the industrial products company’s stock after purchasing an additional 2,344 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Pentair were worth $527,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. acquired a new position in Pentair in the 1st quarter valued at $28,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in Pentair in the 1st quarter valued at $49,000. Ancora Advisors LLC acquired a new position in Pentair in the 1st quarter valued at $56,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Pentair in the 1st quarter worth $62,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Pentair in the 1st quarter worth $77,000. 88.60% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Performance

Shares of Pentair stock opened at $63.69 on Tuesday. The business has a 50-day moving average of $67.45 and a 200 day moving average of $62.09. Pentair plc has a 12 month low of $38.55 and a 12 month high of $71.82. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.48 and a quick ratio of 0.77.

Pentair (NYSE:PNR – Get Free Report) last announced its earnings results on Thursday, July 27th. The industrial products company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Pentair had a return on equity of 22.39% and a net margin of 11.82%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business posted $1.02 EPS. Pentair’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Pentair plc will post 3.74 earnings per share for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Friday, October 20th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, October 19th. Pentair’s payout ratio is presently 29.53%.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of recent research reports. Mizuho raised their target price on Pentair from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Pentair in a research note on Monday, August 7th. Barclays raised their target price on Pentair from $70.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. StockNews.com initiated coverage on Pentair in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pentair in a report on Wednesday, June 28th. They set a “buy” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.20.

Check Out Our Latest Research Report on Pentair

Insider Activity

In other news, CEO John L. Stauch sold 32,596 shares of Pentair stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.42, for a total value of $2,328,006.32. Following the completion of the transaction, the chief executive officer now owns 7,690 shares in the company, valued at approximately $549,219.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Pentair Profile

(Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.