Raymond James Financial Services Advisors Inc. Raises Stock Position in Pentair plc (NYSE:PNR)

Raymond James Financial Services Advisors Inc. boosted its position in Pentair plc (NYSE:PNRGet Rating) by 12.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,240 shares of the industrial products company’s stock after purchasing an additional 1,957 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Pentair were worth $741,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in Pentair by 54.2% during the first quarter. HighTower Advisors LLC now owns 16,188 shares of the industrial products company’s stock worth $879,000 after buying an additional 5,692 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Pentair by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,141 shares of the industrial products company’s stock worth $1,200,000 after purchasing an additional 1,371 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Pentair by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 126,084 shares of the industrial products company’s stock worth $7,146,000 after purchasing an additional 322 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Pentair by 17.3% in the first quarter. Allianz Asset Management GmbH now owns 14,212 shares of the industrial products company’s stock valued at $770,000 after purchasing an additional 2,098 shares in the last quarter. Finally, Moors & Cabot Inc. raised its stake in Pentair by 1.9% in the first quarter. Moors & Cabot Inc. now owns 11,408 shares of the industrial products company’s stock valued at $618,000 after purchasing an additional 214 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

Insider Transactions at Pentair

In related news, Director Glynis Bryan sold 3,947 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $45.14, for a total transaction of $178,167.58. Following the completion of the transaction, the director now owns 27,609 shares in the company, valued at $1,246,270.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of research analyst reports. TheStreet lowered shares of Pentair from a “b-” rating to a “c+” rating in a report on Friday, October 7th. Citigroup lowered their price target on Pentair from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, December 9th. Barclays lifted their price target on Pentair from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, January 5th. Mizuho upgraded Pentair from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $60.00 in a research report on Friday, January 13th. Finally, The Goldman Sachs Group dropped their target price on Pentair to $55.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.80.

Pentair Stock Up 2.6 %

Shares of NYSE PNR opened at $50.44 on Tuesday. The firm’s fifty day moving average is $46.16 and its 200 day moving average is $45.27. Pentair plc has a 52 week low of $38.55 and a 52 week high of $65.45. The company has a quick ratio of 0.71, a current ratio of 1.42 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.61 and a beta of 1.07.

Pentair (NYSE:PNRGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Pentair had a net margin of 13.02% and a return on equity of 24.47%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, equities research analysts expect that Pentair plc will post 3.65 earnings per share for the current year.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 3rd. Shareholders of record on Friday, January 20th will be given a dividend of $0.22 per share. This is a positive change from Pentair’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, January 19th. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. Pentair’s dividend payout ratio is presently 27.41%.

About Pentair

(Get Rating)

Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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