Contravisory Investment Management Inc. Cuts Stake in Pentair plc (NYSE:PNR)

Contravisory Investment Management Inc. lessened its holdings in Pentair plc (NYSE:PNR) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,514 shares of the industrial products company’s stock after selling 108 shares during the period. Contravisory Investment Management Inc.’s holdings in Pentair were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNR. Millennium Management LLC raised its position in shares of Pentair by 0.7% during the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after buying an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after buying an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after buying an additional 996,325 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after buying an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after buying an additional 1,228,635 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 0.8 %

Shares of PNR opened at $96.24 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. Pentair plc has a 12 month low of $57.18 and a 12 month high of $98.23. The stock’s 50 day moving average is $89.44 and its two-hundred day moving average is $83.80. The firm has a market cap of $15.93 billion, a P/E ratio of 24.36, a PEG ratio of 1.74 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $1.03 earnings per share. Pentair’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts predict that Pentair plc will post 4.26 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio is presently 23.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Stifel Nicolaus raised their target price on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.47.

Pentair Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.