Man Group plc Acquires 76,564 Shares of Pentair plc (NYSE:PNR)

Man Group plc increased its position in shares of Pentair plc (NYSE:PNR) by 72.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,875 shares of the industrial products company’s stock after purchasing an additional 76,564 shares during the period. Man Group plc owned about 0.11% of Pentair worth $18,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock valued at $2,034,575,000 after purchasing an additional 148,031 shares during the period. FMR LLC increased its position in shares of Pentair by 7.0% during the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock valued at $614,030,000 after purchasing an additional 396,581 shares during the period. Geode Capital Management LLC increased its position in shares of Pentair by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock valued at $410,240,000 after purchasing an additional 87,244 shares during the period. Northern Trust Corp increased its position in shares of Pentair by 27.9% during the fourth quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock valued at $197,482,000 after purchasing an additional 428,184 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Pentair by 3.7% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,749,965 shares of the industrial products company’s stock valued at $176,117,000 after purchasing an additional 62,926 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Pentair Price Performance

Pentair stock opened at $101.12 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The firm has a market cap of $16.64 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.87 and a beta of 1.11. The business’s fifty day moving average is $87.57 and its two-hundred day moving average is $96.45. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Equities research analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, July 18th. Pentair’s dividend payout ratio is currently 25.84%.

Insiders Place Their Bets

In other news, Director David A. /Wi Jones sold 6,558 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director now owns 26,313 shares of the company’s stock, valued at $2,366,591.22. This represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the topic of a number of research reports. Stifel Nicolaus lowered their price objective on Pentair from $125.00 to $102.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird decreased their price target on Pentair from $114.00 to $107.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada boosted their price target on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Citigroup decreased their price target on Pentair from $118.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Mizuho set a $100.00 price target on Pentair in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair has a consensus rating of “Buy” and a consensus price target of $107.14.

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.