Thematics Asset Management Trims Stock Position in Pentair plc (NYSE:PNR)

Thematics Asset Management reduced its position in Pentair plc (NYSE:PNR) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 184,237 shares of the industrial products company’s stock after selling 22,500 shares during the quarter. Thematics Asset Management owned about 0.11% of Pentair worth $18,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PNR. O Shaughnessy Asset Management LLC increased its stake in Pentair by 64.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,262 shares of the industrial products company’s stock worth $620,000 after buying an additional 2,833 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Pentair during the first quarter worth approximately $489,000. California State Teachers Retirement System increased its position in shares of Pentair by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 260,531 shares of the industrial products company’s stock worth $22,260,000 after purchasing an additional 977 shares during the last quarter. LBP AM SA bought a new position in shares of Pentair during the first quarter worth about $2,054,000. Finally, Zimmer Partners LP acquired a new position in Pentair in the first quarter worth about $11,769,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

Shares of NYSE PNR traded up $0.75 during midday trading on Tuesday, reaching $108.69. The company’s stock had a trading volume of 307,372 shares, compared to its average volume of 1,540,834. The company has a market cap of $17.96 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. Pentair plc has a one year low of $62.81 and a one year high of $109.31. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $99.68 and a 200 day moving average price of $88.39.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period last year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PNR shares. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer upped their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $106.38.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.28% of the company’s stock.

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.