Swedbank AB Sells 330,000 Shares of Pentair plc (NYSE:PNR)

Swedbank AB lessened its stake in shares of Pentair plc (NYSE:PNR) by 24.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,021,271 shares of the industrial products company’s stock after selling 330,000 shares during the period. Swedbank AB owned about 0.62% of Pentair worth $102,781,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Inspire Advisors LLC lifted its position in shares of Pentair by 1.6% in the 3rd 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 during the period. Quarry LP lifted its holdings in Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares during the period. Annex Advisory Services LLC boosted its position in Pentair by 2.9% during the 4th quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 151 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Pentair by 5.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,923 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 158 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Pentair by 14.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,337 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 167 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. UBS Group upped their price target on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $111.07.

Pentair Stock Down 1.1 %

Shares of PNR opened at $101.63 on Thursday. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market cap of $16.79 billion, a P/E ratio of 25.41, a PEG ratio of 1.67 and a beta of 1.21. The stock’s 50 day moving average is $103.95 and its two-hundred day moving average is $96.39. Pentair plc has a 12 month low of $71.40 and a 12 month high of $110.71.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. Pentair’s dividend payout ratio is currently 23.00%.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated 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 approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Pentair Company 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.