Municipal Employees Retirement System of Michigan Acquires Shares of 4,270 Pentair PLC (PNR)

Municipal Employees Retirement System of Michigan acquired a new stake in Pentair PLC (NYSE:PNR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,270 shares of the industrial products company’s stock, valued at approximately $161,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Impax Asset Management Group plc lifted its stake in Pentair by 73.9% in the fourth quarter. Impax Asset Management Group plc now owns 3,386,199 shares of the industrial products company’s stock worth $127,931,000 after acquiring an additional 1,438,974 shares during the last quarter. Paloma Partners Management Co lifted its position in shares of Pentair by 135.8% during the 4th quarter. Paloma Partners Management Co now owns 8,777 shares of the industrial products company’s stock worth $331,000 after buying an additional 33,277 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Pentair by 969.2% during the 4th quarter. Squarepoint Ops LLC now owns 123,617 shares of the industrial products company’s stock worth $4,670,000 after buying an additional 112,055 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Pentair by 7.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 181,898 shares of the industrial products company’s stock worth $6,872,000 after buying an additional 12,259 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Pentair by 292.7% during the 4th quarter. Two Sigma Advisers LP now owns 893,550 shares of the industrial products company’s stock worth $33,758,000 after buying an additional 666,000 shares during the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

Shares of Pentair stock opened at $38.35 on Thursday. The firm has a market capitalization of $6.85 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. Pentair PLC has a 12 month low of $35.30 and a 12 month high of $72.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 1.27.

Pentair (NYSE:PNR) last announced its earnings results on Wednesday, April 17th. The industrial products company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $689.90 million for the quarter, compared to analysts’ expectations of $795.82 million. Pentair had a net margin of 9.92% and a return on equity of 18.86%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. As a group, equities research analysts expect that Pentair PLC will post 2.33 EPS for the current fiscal year.

The firm 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 $0.18 dividend. The ex-dividend date is Wednesday, April 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.88%. Pentair’s payout ratio is 30.64%.

Several brokerages have recently weighed in on PNR. Zacks Investment Research downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine downgraded shares of Pentair from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Oppenheimer restated a “hold” rating on shares of Pentair in a research report on Thursday, February 14th. Finally, BMO Capital Markets reduced their price objective on shares of Pentair from $47.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. Two equities research 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 price target of $45.90.

In other news, COO Karl R. Frykman sold 10,241 shares of Pentair stock in a transaction on Friday, February 1st. The shares were sold at an average price of $41.28, for a total value of $422,748.48. Following the transaction, the chief operating officer now directly owns 60,877 shares of the company’s stock, valued at approximately $2,513,002.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ademir Sarcevic sold 2,435 shares of Pentair stock in a transaction on Monday, April 1st. The shares were sold at an average price of $45.00, for a total transaction of $109,575.00. Following the completion of the transaction, the senior vice president now directly owns 2,763 shares in the company, valued at $124,335. The disclosure for this sale can be found here. Insiders sold a total of 12,942 shares of company stock worth $543,730 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

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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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