Pentair plc (NYSE:PNR) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its stake in Pentair plc (NYSE:PNR) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,388 shares of the industrial products company’s stock after selling 56,867 shares during the quarter. Northwest & Ethical Investments L.P. owned about 0.18% of Pentair worth $28,984,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Pentair by 1.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares in the last quarter. Inspire Advisors LLC lifted its stake in shares of Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Transactions at Pentair

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 directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

Pentair Price Performance

NYSE PNR traded down $0.15 on Thursday, reaching $108.96. The company’s stock had a trading volume of 925,026 shares, compared to its average volume of 1,542,700. Pentair plc has a twelve month low of $63.09 and a twelve month high of $110.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The firm’s 50 day moving average is $99.99 and its two-hundred day moving average is $88.57. The stock has a market cap of $18.00 billion, a PE ratio of 27.24, a PEG ratio of 1.92 and a beta of 1.19.

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

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PNR. TD Cowen boosted their price objective on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Oppenheimer boosted 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. Mizuho boosted their price target on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, UBS Group boosted their price target on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company 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.