Harvest Fund Management Co. Ltd Acquires 3,279 Shares of Pentair plc (NYSE:PNR)

Harvest Fund Management Co. Ltd raised its holdings in shares of Pentair plc (NYSE:PNR) by 81,975.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,283 shares of the industrial products company’s stock after purchasing an additional 3,279 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Pentair were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PNR. Advisors Asset Management Inc. purchased a new position in Pentair in the first quarter worth about $489,000. California State Teachers Retirement System boosted its holdings in shares of Pentair by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 260,531 shares of the industrial products company’s stock worth $22,260,000 after purchasing an additional 977 shares during the period. LBP AM SA bought a new position in shares of Pentair during the 1st quarter valued at approximately $2,054,000. LRI Investments LLC purchased a new stake in Pentair during the 1st quarter valued at $58,000. Finally, Swedbank AB bought a new stake in Pentair in the first quarter worth $97,083,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Up 1.1 %

Shares of Pentair stock opened at $109.15 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.91 and a beta of 1.19. The firm’s 50-day moving average is $99.68 and its two-hundred day moving average is $88.39. Pentair plc has a 1 year low of $62.81 and a 1 year high of $109.31.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. As a group, research analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors 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 dividend yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is currently 23.00%.

Insider Buying and Selling

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNR. UBS Group increased their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pentair in a research note on Tuesday. They issued an “outperform” rating and a $125.00 price objective for the company. Barclays upped their target price on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.38.

Pentair 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.