BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Stake in Pentair plc (NYSE:PNR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its holdings in Pentair plc (NYSE:PNR) by 24.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,891 shares of the industrial products company’s stock after selling 81,942 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.15% of Pentair worth $24,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Millennium Management LLC increased its position in shares of Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after buying an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Pentair by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after acquiring an additional 53,787 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after acquiring an additional 996,325 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after purchasing an additional 105,724 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Pentair by 352.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after purchasing an additional 1,228,635 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PNR. Mizuho raised their price target on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research note on Thursday. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Pentair Stock Performance

Shares of Pentair stock opened at $106.91 on Friday. The firm has a market cap of $17.66 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.87 and a beta of 1.19. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a 52 week low of $62.63 and a 52 week high of $107.78. The business’s fifty day simple moving average is $99.07 and its 200-day simple moving average is $87.97.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Equities analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is 23.00%.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.