ING Groep NV Buys New Shares in Pentair plc $PNR

ING Groep NV bought a new stake in shares of Pentair plc (NYSE:PNR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 107,948 shares of the industrial products company’s stock, valued at approximately $11,242,000. ING Groep NV owned approximately 0.07% of Pentair as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Avanza Fonder AB lifted its position in shares of Pentair by 142.1% in the fourth quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock valued at $4,055,000 after acquiring an additional 22,858 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Pentair by 13.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock valued at $274,810,000 after acquiring an additional 305,166 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Pentair by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock valued at $366,787,000 after acquiring an additional 647,162 shares in the last quarter. IMC Chicago LLC purchased a new position in shares of Pentair in the third quarter valued at about $1,635,000. Finally, SG Americas Securities LLC lifted its position in shares of Pentair by 624.2% in the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock valued at $37,766,000 after acquiring an additional 312,574 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Trading Up 0.0%

Shares of PNR stock opened at $73.17 on Monday. Pentair plc has a 12-month low of $69.93 and a 12-month high of $113.95. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $81.24 and its 200-day moving average price is $94.10. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

Pentair (NYSE:PNR) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.05. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. Equities research analysts predict that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s payout ratio is presently 26.47%.

Analyst Upgrades and Downgrades

PNR has been the topic of several research analyst reports. Robert W. Baird set a $110.00 price objective on Pentair in a research report on Wednesday, April 29th. Royal Bank Of Canada lowered their price objective on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. TD Cowen lowered their price objective on Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings cut Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Barclays reduced their target price on Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.