Assenagon Asset Management S.A. Boosts Stake in Pentair plc (NYSE:PNR)

Assenagon Asset Management S.A. boosted its holdings in Pentair plc (NYSE:PNR) by 93.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 380,658 shares of the industrial products company’s stock after acquiring an additional 184,003 shares during the quarter. Assenagon Asset Management S.A. owned about 0.23% of Pentair worth $37,225,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNR. DekaBank Deutsche Girozentrale grew its stake in shares of Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares during the period. Swedbank AB purchased a new stake in Pentair during the first quarter worth about $97,083,000. Massachusetts Financial Services Co. MA grew its position in 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 worth $159,655,000 after buying an additional 996,325 shares during the period. Interval Partners LP increased its holdings in Pentair by 289.6% in the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after buying an additional 710,703 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Pentair by 360.6% during the 1st quarter. SG Americas Securities LLC now owns 601,171 shares of the industrial products company’s stock valued at $51,364,000 after acquiring an additional 470,662 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Up 1.4 %

PNR stock opened at $99.39 on Friday. The company has a 50 day moving average price of $92.53 and a two-hundred day moving average price of $84.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.60. The stock has a market capitalization of $16.45 billion, a P/E ratio of 24.85, a PEG ratio of 1.76 and a beta of 1.20. Pentair plc has a one year low of $57.18 and a one year high of $99.96.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the previous year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Pentair plc will post 4.27 EPS for the current year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. Pentair’s dividend payout ratio is presently 23.00%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays boosted their price objective on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group raised their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer upped their price target on shares of Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Company 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.