Gateway Investment Advisers LLC Grows Holdings in Pentair PLC (PNR)

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Gateway Investment Advisers LLC grew its position in Pentair PLC (NYSE:PNR) by 15.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 222,765 shares of the industrial products company’s stock after purchasing an additional 29,934 shares during the period. Gateway Investment Advisers LLC owned approximately 0.13% of Pentair worth $9,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Andra AP fonden lifted its position in shares of Pentair by 43.0% in the 3rd quarter. Andra AP fonden now owns 152,000 shares of the industrial products company’s stock valued at $6,589,000 after acquiring an additional 45,700 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Pentair by 155.5% during the 3rd quarter. Bank of Montreal Can now owns 272,396 shares of the industrial products company’s stock worth $11,808,000 after purchasing an additional 165,803 shares during the last quarter. Manning & Napier Group LLC increased its stake in shares of Pentair by 10.5% during the 3rd quarter. Manning & Napier Group LLC now owns 20,687 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 1,969 shares during the last quarter. Marshwinds Advisory Co. acquired a new position in shares of Pentair during the 3rd quarter worth $200,000. Finally, BTR Capital Management Inc. increased its stake in shares of Pentair by 1.2% during the 3rd quarter. BTR Capital Management Inc. now owns 147,265 shares of the industrial products company’s stock worth $6,384,000 after purchasing an additional 1,812 shares during the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.

PNR stock traded down $0.73 during trading on Friday, hitting $42.53. 1,430,376 shares of the stock traded hands, compared to its average volume of 1,971,701. The company has a quick ratio of 0.85, a current ratio of 1.40 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $7.47 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.65 and a beta of 1.30. Pentair PLC has a one year low of $36.06 and a one year high of $50.25.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Pentair had a net margin of 11.04% and a return on equity of 16.35%. The firm had revenue of $711.40 million during the quarter, compared to analysts’ expectations of $698.88 million. During the same quarter last year, the company posted $0.95 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts expect that Pentair PLC will post 2.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Friday, October 19th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Thursday, October 18th. Pentair’s dividend payout ratio is 19.83%.

In other Pentair news, Director Trian Fund Management, L.P. sold 1,700,000 shares of Pentair stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $42.15, for a total value of $71,655,000.00. Following the transaction, the director now owns 2,862 shares of the company’s stock, valued at $120,633.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Glynis Bryan sold 17,133 shares of Pentair stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $770,985.00. Following the completion of the transaction, the director now directly owns 35,115 shares in the company, valued at approximately $1,580,175. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Several research analysts have recently commented on the stock. Robert W. Baird restated a “hold” rating and set a $44.00 price target on shares of Pentair in a research note on Friday, July 20th. Zacks Investment Research upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Monday, July 30th. Barclays reiterated a “sell” rating and issued a $39.00 target price on shares of Pentair in a research note on Thursday, July 26th. Seaport Global Securities reiterated a “buy” rating and issued a $48.00 target price on shares of Pentair in a research note on Friday, July 27th. Finally, ValuEngine upgraded shares of Pentair from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.08.

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Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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