Cerebellum GP LLC raised its holdings in shares of Pentair PLC (NYSE:PNR) by 5.6% in the 4th quarter, Holdings Channel reports. The firm owned 12,307 shares of the industrial products company’s stock after purchasing an additional 651 shares during the quarter. Cerebellum GP LLC’s holdings in Pentair were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the business. FormulaFolio Investments LLC bought a new stake in Pentair during the fourth quarter valued at $332,000. CenturyLink Investment Management Co increased its stake in Pentair by 8.1% during the fourth quarter. CenturyLink Investment Management Co now owns 26,956 shares of the industrial products company’s stock valued at $1,236,000 after purchasing an additional 2,031 shares during the last quarter. Tuttle Tactical Management bought a new stake in Pentair during the fourth quarter valued at $788,000. Contravisory Investment Management Inc. bought a new stake in Pentair during the fourth quarter valued at $356,000. Finally, Millennium Management LLC increased its stake in Pentair by 259.2% during the third quarter. Millennium Management LLC now owns 306,065 shares of the industrial products company’s stock valued at $11,569,000 after purchasing an additional 220,857 shares during the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.
PNR has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Pentair from a “sell” rating to a “hold” rating and set a $44.00 target price for the company in a research note on Friday, October 25th. Morgan Stanley set a $43.00 target price on shares of Pentair and gave the company a “hold” rating in a research note on Friday, October 25th. Seaport Global Securities reiterated a “buy” rating on shares of Pentair in a research note on Tuesday, October 15th. Stifel Nicolaus lowered shares of Pentair from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a research note on Tuesday, December 17th. Finally, Citigroup started coverage on shares of Pentair in a research report on Tuesday, December 17th. They set a “neutral” rating and a $50.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $45.50.
Pentair (NYSE:PNR) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The business had revenue of $713.60 million during the quarter, compared to analyst estimates of $719.07 million. Pentair had a net margin of 11.92% and a return on equity of 21.35%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, sell-side analysts forecast that Pentair PLC will post 2.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, January 23rd. This represents a $0.76 annualized dividend and a dividend yield of 1.66%. This is a positive change from Pentair’s previous quarterly dividend of $0.18. Pentair’s dividend payout ratio is currently 30.64%.
In other news, Director T Michael Glenn sold 6,116 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $44.23, for a total transaction of $270,510.68. Following the completion of the transaction, the director now owns 24,702 shares in the company, valued at $1,092,569.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 18,348 shares of company stock valued at $791,043 in the last 90 days. Insiders own 0.80% of the company’s stock.
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment 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, pool repair, renovation, service and construction, and aquaculture solution applications.
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