Pentair plc (NYSE:PNR) Shares Bought by M&T Bank Corp

M&T Bank Corp increased its position in shares of Pentair plc (NYSE:PNR) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 33,132 shares of the industrial products company’s stock after buying an additional 734 shares during the quarter. M&T Bank Corp’s holdings in Pentair were worth $3,240,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Pentair by 91.7% in the 2nd 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 acquiring an additional 996,325 shares during the last quarter. Interval Partners LP raised its holdings in Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Pentair by 862.2% during the 3rd quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after buying an additional 395,962 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Pentair in the 3rd quarter valued at $26,748,000. Finally, State Street Corp grew its position in shares of Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after buying an additional 259,922 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

NYSE:PNR opened at $107.16 on Friday. The firm’s fifty day simple moving average is $103.23 and its 200-day simple moving average is $90.75. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The stock has a market cap of $17.71 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Pentair plc has a fifty-two week low of $68.08 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR) last issued its earnings results 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. The company had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. Analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Insider Transactions at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction 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. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the subject of several research analyst reports. Barclays upped their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group lifted their price target on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wolfe Research began coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, KeyCorp raised their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.38.

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.