Edgestream Partners L.P. Purchases New Stake in Pentair plc (NYSE:PNR)

Edgestream Partners L.P. purchased a new stake in Pentair plc (NYSE:PNR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,051 shares of the industrial products company’s stock, valued at approximately $3,525,000.

Several other hedge funds have also bought and sold shares of PNR. Harbour Investments Inc. lifted its stake in Pentair by 10.7% during the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 636 shares in the last quarter. Cetera Investment Advisers lifted its stake in Pentair by 222.8% during the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after acquiring an additional 34,959 shares in the last quarter. Swedbank AB lifted its stake in Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after acquiring an additional 10,000 shares in the last quarter. ORG Partners LLC bought a new position in Pentair during the 2nd quarter valued at $631,000. Finally, CHICAGO TRUST Co NA bought a new position in Pentair during the 2nd quarter valued at $572,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair Stock Up 0.0 %

PNR stock opened at $108.99 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $18.01 billion, a PE ratio of 27.25, a PEG ratio of 1.94 and a beta of 1.19. Pentair plc has a twelve month low of $63.38 and a twelve month high of $110.71. The stock has a 50-day simple moving average of $100.85 and a two-hundred day simple moving average of $89.07.

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 analysts’ consensus estimates 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 return on equity of 20.48% and a net margin of 16.29%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, equities analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNR. Wolfe Research began coverage on Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group lifted their target price on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. KeyCorp lifted their target price on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.38.

About Pentair

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.