Canada Pension Plan Investment Board Cuts Holdings in Pentair PLC. (PNR)

Canada Pension Plan Investment Board decreased its holdings in shares of Pentair PLC. (NYSE:PNR) by 61.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Pentair by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,456 shares of the industrial products company’s stock worth $829,000 after acquiring an additional 53 shares during the period. CIBC Asset Management Inc increased its holdings in Pentair by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 54 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Pentair by 1.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,439 shares of the industrial products company’s stock valued at $295,000 after buying an additional 62 shares during the period. Thrivent Financial For Lutherans increased its holdings in Pentair by 1.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,319 shares of the industrial products company’s stock valued at $420,000 after buying an additional 92 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in Pentair by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the industrial products company’s stock valued at $692,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 84.56% of the company’s stock.

In other Pentair news, Director Trian Fund Management, L.P. acquired 9,966 shares of the company’s stock in a transaction on Monday, November 27th. The shares were acquired at an average cost of $69.22 per share, with a total value of $689,846.52. Following the completion of the acquisition, the director now directly owns 1,122 shares in the company, valued at $77,664.84. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Karl R. Frykman sold 11,386 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $70.24, for a total transaction of $799,752.64. Following the sale, the insider now directly owns 36,476 shares in the company, valued at $2,562,074.24. The disclosure for this sale can be found here. Insiders have sold a total of 217,632 shares of company stock worth $14,783,286 over the last ninety days. Insiders own 9.90% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, October 27th. BMO Capital Markets raised their price target on shares of Pentair from $78.00 to $79.00 and gave the company a “market perform” rating in a research note on Wednesday, October 25th. Seaport Global Securities reiterated a “buy” rating on shares of Pentair in a research report on Wednesday, October 25th. Robert W. Baird lifted their target price on shares of Pentair from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $76.00 target price (up from $75.00) on shares of Pentair in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Pentair currently has an average rating of “Hold” and a consensus target price of $70.67.

Shares of Pentair PLC. (NYSE:PNR) traded up $0.68 during mid-day trading on Wednesday, reaching $69.23. 1,474,310 shares of the company’s stock were exchanged, compared to its average volume of 986,553. The company has a market cap of $12,559.28, a price-to-earnings ratio of 20.46, a PEG ratio of 1.84 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.30. Pentair PLC. has a fifty-two week low of $55.76 and a fifty-two week high of $71.76.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. This is an increase from Pentair’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, January 25th. Pentair’s payout ratio is currently 41.82%.

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About Pentair

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.

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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