Bank of New York Mellon Corp boosted its position in Pentair PLC (NYSE:PNR) by 10.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,962,850 shares of the industrial products company’s stock after acquiring an additional 187,946 shares during the period. Bank of New York Mellon Corp’s holdings in Pentair were worth $74,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. bought a new position in shares of Pentair during the fourth quarter valued at about $682,000. CIBC World Markets Inc. bought a new position in shares of Pentair during the third quarter valued at about $280,000. LS Investment Advisors LLC grew its stake in shares of Pentair by 6.4% during the fourth quarter. LS Investment Advisors LLC now owns 72,147 shares of the industrial products company’s stock valued at $2,726,000 after buying an additional 4,335 shares during the last quarter. Boston Advisors LLC grew its stake in shares of Pentair by 2.3% during the fourth quarter. Boston Advisors LLC now owns 55,043 shares of the industrial products company’s stock valued at $2,080,000 after buying an additional 1,241 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in shares of Pentair by 503.2% during the third quarter. Riverhead Capital Management LLC now owns 69,287 shares of the industrial products company’s stock valued at $3,003,000 after buying an additional 57,800 shares during the last quarter. 83.78% of the stock is currently owned by institutional investors and hedge funds.

Pentair stock opened at $42.56 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 0.43. The stock has a market cap of $7.31 billion, a PE ratio of 18.11, a PEG ratio of 1.61 and a beta of 1.25. Pentair PLC has a 1-year low of $35.30 and a 1-year high of $73.07.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, January 29th. The industrial products company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.01. The company had revenue of $740.50 million during the quarter, compared to analyst estimates of $735.74 million. Pentair had a net margin of 9.92% and a return on equity of 18.86%. Pentair’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. Sell-side analysts predict that Pentair PLC will post 2.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, April 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.69%. Pentair’s dividend payout ratio is currently 30.64%.

In other news, SVP Ademir Sarcevic sold 1,287 shares of the stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $37.61, for a total transaction of $48,404.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Karl R. Frykman sold 10,241 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $41.28, for a total transaction of $422,748.48. Following the completion of the sale, the chief operating officer now owns 60,877 shares of the company’s stock, valued at $2,513,002.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,794 shares of company stock valued at $482,559. 10.70% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on the company. Oppenheimer reaffirmed a “hold” rating on shares of Pentair in a research note on Thursday, February 14th. Zacks Investment Research cut Pentair from a “buy” rating to a “hold” rating in a research note on Monday, November 19th. Morgan Stanley assumed coverage on Pentair in a research note on Tuesday, December 18th. They set an “equal weight” rating and a $41.00 price objective on the stock. Finally, ValuEngine cut Pentair from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Pentair currently has a consensus rating of “Hold” and an average target price of $48.40.

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About Pentair

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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