Pentair PLC. (PNR) Holdings Cut by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its stake in shares of Pentair PLC. (NYSE:PNR) by 61.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,306 shares of the industrial products company’s stock after selling 13,500 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Pentair PLC. were worth $564,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PNR. Lord Abbett & CO. LLC raised its stake in Pentair PLC. by 193.2% during the second quarter. Lord Abbett & CO. LLC now owns 1,327,823 shares of the industrial products company’s stock worth $88,353,000 after acquiring an additional 875,023 shares in the last quarter. Trian Fund Management L.P. raised its stake in Pentair PLC. by 6.0% during the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after acquiring an additional 862,769 shares in the last quarter. BlackRock Inc. raised its stake in Pentair PLC. by 5.1% during the second quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock worth $808,662,000 after acquiring an additional 588,818 shares in the last quarter. Bain Capital Public Equity Management LLC raised its stake in Pentair PLC. by 67.3% during the second quarter. Bain Capital Public Equity Management LLC now owns 1,321,273 shares of the industrial products company’s stock worth $87,918,000 after acquiring an additional 531,652 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Pentair PLC. by 2.5% during the second quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock worth $1,075,249,000 after acquiring an additional 392,842 shares in the last quarter. Hedge funds and other institutional investors own 85.21% of the company’s stock.

In other Pentair PLC. news, Director William T. Monahan sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $70.27, for a total transaction of $702,700.00. Following the transaction, the director now owns 50,656 shares in the company, valued at $3,559,597.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $67.00, for a total value of $348,400.00. Following the transaction, the director now owns 21,538 shares in the company, valued at approximately $1,443,046. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,247 shares of company stock valued at $14,266,336. Corporate insiders own 9.90% of the company’s stock.

A number of brokerages have recently weighed in on PNR. Zacks Investment Research lowered Pentair PLC. from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Robert W. Baird restated a “hold” rating and issued a $70.00 target price on shares of Pentair PLC. in a research note on Wednesday, October 4th. Jefferies Group LLC restated a “hold” rating and issued a $59.00 target price on shares of Pentair PLC. in a research note on Thursday, September 21st. BidaskClub lowered Pentair PLC. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, BMO Capital Markets restated a “hold” rating and issued a $70.00 target price on shares of Pentair PLC. in a research note on Wednesday, September 6th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $70.92.

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Shares of Pentair PLC. (PNR) opened at $69.16 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $12,430.00, a PE ratio of 20.25, a P/E/G ratio of 1.82 and a beta of 1.40. Pentair PLC. has a 12-month low of $55.76 and a 12-month high of $71.65.

Pentair PLC. (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Pentair PLC. had a return on equity of 13.39% and a net margin of 12.50%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. analysts anticipate that Pentair PLC. will post 3.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Friday, October 20th were given a $0.345 dividend. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $1.38 dividend on an annualized basis and a yield of 2.00%. Pentair PLC.’s payout ratio is 65.71%.

Pentair PLC. Profile

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

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Institutional Ownership by Quarter for Pentair PLC. (NYSE:PNR)

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