Pentair plc (NYSE:PNR) Shares Sold by ING Groep NV

ING Groep NV cut its stake in shares of Pentair plc (NYSE:PNR) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,134 shares of the industrial products company’s stock after selling 207 shares during the period. ING Groep NV’s holdings in Pentair were worth $2,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. acquired a new stake in Pentair in the 1st quarter valued at approximately $203,000. Intech Investment Management LLC raised its holdings in shares of Pentair by 63.5% in the 1st quarter. Intech Investment Management LLC now owns 18,427 shares of the industrial products company’s stock valued at $1,574,000 after buying an additional 7,157 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Pentair by 64.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,262 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 2,833 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Pentair by 2,646.2% during the 1st quarter. Bessemer Group Inc. now owns 29,961 shares of the industrial products company’s stock valued at $2,559,000 after acquiring an additional 28,870 shares during the period. Finally, Oxford Financial Group LTD. LLC acquired a new position in Pentair in the 1st quarter valued at about $354,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus boosted their target price on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays increased their price target on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pentair presently has an average rating of “Moderate Buy” and an average price target of $105.13.

Pentair Price Performance

Shares of PNR opened at $105.92 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a 1-year low of $62.04 and a 1-year high of $107.78. The stock has a market cap of $17.50 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The firm has a fifty day moving average price of $97.70 and a 200 day moving average price of $87.31.

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

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.87%. Pentair’s payout ratio is 23.00%.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.