Jump Financial LLC Makes New Investment in Pentair plc (NYSE:PNR)

Jump Financial LLC purchased a new position in Pentair plc (NYSE:PNRFree Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 60,117 shares of the industrial products company’s stock, valued at approximately $3,893,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Pentair by 10.6% during the first quarter. BlackRock Inc. now owns 15,999,717 shares of the industrial products company’s stock worth $884,304,000 after purchasing an additional 1,526,893 shares during the last quarter. Millennium Management LLC increased its position in Pentair by 100.3% in the fourth quarter. Millennium Management LLC now owns 2,208,270 shares of the industrial products company’s stock worth $99,328,000 after buying an additional 1,105,735 shares during the period. Robeco Schweiz AG increased its position in Pentair by 41.3% in the first quarter. Robeco Schweiz AG now owns 2,667,551 shares of the industrial products company’s stock worth $144,608,000 after buying an additional 780,043 shares during the period. Parnassus Investments LLC increased its position in Pentair by 42.5% in the second quarter. Parnassus Investments LLC now owns 1,977,944 shares of the industrial products company’s stock worth $127,775,000 after buying an additional 589,491 shares during the period. Finally, Renaissance Technologies LLC increased its position in Pentair by 176.4% in the first quarter. Renaissance Technologies LLC now owns 892,164 shares of the industrial products company’s stock worth $48,364,000 after buying an additional 569,400 shares during the period. Hedge funds and other institutional investors own 88.60% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the topic of a number of research analyst reports. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. Royal Bank of Canada upgraded Pentair from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $75.00 to $79.00 in a report on Friday, January 12th. Barclays reduced their target price on Pentair from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Finally, Stifel Nicolaus boosted their target price on Pentair from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $74.13.

Read Our Latest Analysis on PNR

Pentair Price Performance

Shares of PNR stock opened at $72.89 on Wednesday. The stock’s fifty day moving average is $69.39 and its 200-day moving average is $66.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 1.50. The stock has a market capitalization of $12.05 billion, a PE ratio of 23.74, a PEG ratio of 1.81 and a beta of 1.20. Pentair plc has a 52 week low of $50.15 and a 52 week high of $75.41.

Pentair (NYSE:PNRGet Free Report) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. Pentair had a return on equity of 21.35% and a net margin of 12.36%. The company had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts expect that Pentair plc will post 3.74 EPS for the current fiscal year.

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, January 18th. This is a positive change from Pentair’s previous quarterly dividend of $0.22. Pentair’s dividend payout ratio is 29.97%.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 4,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.77, for a total value of $243,080.00. Following the transaction, the executive vice president now owns 18,535 shares of the company’s stock, valued at $1,126,371.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Pentair news, EVP Philip M. Rolchigo sold 4,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.77, for a total value of $243,080.00. Following the transaction, the executive vice president now owns 18,535 shares of the company’s stock, valued at $1,126,371.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. /Wi Jones sold 2,260 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $67.85, for a total value of $153,341.00. Following the completion of the transaction, the director now directly owns 23,081 shares in the company, valued at approximately $1,566,045.85. The disclosure for this sale can be found here. Insiders have sold 8,520 shares of company stock valued at $541,965 over the last 90 days. 0.89% of the stock is owned by company insiders.

Pentair Company Profile

(Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.

See Also

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

Receive News & Ratings for Pentair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair and related companies with MarketBeat.com's FREE daily email newsletter.