QRG Capital Management Inc. Increases Stock Holdings in Pentair plc (NYSE:PNR)

QRG Capital Management Inc. boosted its stake in Pentair plc (NYSE:PNR) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,321 shares of the industrial products company’s stock after acquiring an additional 190 shares during the quarter. QRG Capital Management Inc.’s holdings in Pentair were worth $912,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Pentair by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after purchasing an additional 8,966 shares during the period. Cetera Investment Advisers boosted its position in Pentair by 222.8% in the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after buying an additional 34,959 shares during the last quarter. Swedbank AB grew its stake in shares of Pentair by 0.9% during the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after acquiring an additional 10,000 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Pentair during the second quarter worth about $631,000. Finally, Mizuho Markets Americas LLC lifted its stake in shares of Pentair by 91.4% in the first quarter. Mizuho Markets Americas LLC now owns 145,540 shares of the industrial products company’s stock worth $12,435,000 after acquiring an additional 69,517 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PNR has been the subject of a number of recent analyst reports. TD Cowen raised their price objective on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Stifel Nicolaus upped their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, UBS Group increased their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Pentair presently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Stock Up 1.4 %

NYSE:PNR opened at $104.37 on Friday. 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 stock has a 50 day moving average of $95.78 and a 200-day moving average of $86.34. The firm has a market capitalization of $17.25 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. Pentair plc has a 52 week low of $60.15 and a 52 week high of $107.32.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (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 analyst estimates of $988.53 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that Pentair plc will post 4.28 EPS for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.88%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

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.