Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $10.10 Million Investment in Pentair plc $PNR

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Pentair plc (NYSE:PNR) in the 4th quarter, HoldingsChannel.com reports. The fund bought 96,980 shares of the industrial products company’s stock, valued at approximately $10,099,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wexford Capital LP purchased a new position in shares of Pentair during the third quarter worth $26,000. Root Financial Partners LLC purchased a new position in shares of Pentair during the third quarter worth $41,000. Park Square Financial Group LLC boosted its position in shares of Pentair by 502.8% during the fourth quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company’s stock worth $44,000 after buying an additional 362 shares during the period. Clearstead Advisors LLC boosted its position in shares of Pentair by 86.4% during the third quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company’s stock worth $49,000 after buying an additional 204 shares during the period. Finally, MUFG Securities EMEA plc purchased a new position in shares of Pentair during the second quarter worth $50,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Down 1.9%

Shares of NYSE PNR opened at $72.01 on Wednesday. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. The business has a 50-day moving average of $85.42 and a two-hundred day moving average of $97.20. Pentair plc has a 1 year low of $71.62 and a 1 year high of $113.95.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. On average, analysts forecast that Pentair plc will post 5.36 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.5%. Pentair’s payout ratio is 26.47%.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 6,493 shares of Pentair stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $103.22, for a total transaction of $670,207.46. Following the sale, the executive vice president owned 29,096 shares in the company, valued at approximately $3,003,289.12. The trade was a 18.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PNR. TD Cowen decreased their target price on Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a report on Wednesday, April 29th. Royal Bank Of Canada decreased their target price on Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Robert W. Baird set a $110.00 target price on Pentair in a report on Wednesday, April 29th. Bank of America decreased their target price on Pentair from $100.00 to $88.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, Weiss Ratings lowered Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Pentair presently has an average rating of “Hold” and a consensus target price of $107.86.

Pentair Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.