American National Bank Sells 445 Shares of Pentair plc (NYSE:PNR)

American National Bank lowered its position in Pentair plc (NYSE:PNR) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,273 shares of the industrial products company’s stock after selling 445 shares during the period. American National Bank’s holdings in Pentair were worth $728,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cascade Investment Advisors Inc. purchased a new position in Pentair in the 1st quarter worth approximately $28,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Pentair during the first quarter worth $49,000. Ancora Advisors LLC purchased a new stake in Pentair in the 1st quarter worth $56,000. Harvest Fund Management Co. Ltd purchased a new stake in Pentair in the 1st quarter worth $62,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Pentair during the 1st quarter valued at about $77,000. Institutional investors own 88.60% of the company’s stock.

Insider Activity at Pentair

In other Pentair news, CEO John L. Stauch sold 32,596 shares of Pentair stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.42, for a total value of $2,328,006.32. Following the transaction, the chief executive officer now directly owns 7,690 shares of the company’s stock, valued at $549,219.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Pentair Stock Performance

Shares of NYSE:PNR opened at $67.13 on Tuesday. The firm has a 50 day moving average of $68.16 and a 200 day moving average of $60.90. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.90 and a beta of 1.16. Pentair plc has a 52 week low of $38.55 and a 52 week high of $71.82.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Pentair had a return on equity of 22.39% and a net margin of 11.82%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts predict that Pentair plc will post 3.74 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.31%. Pentair’s dividend payout ratio (DPR) is presently 29.53%.

Analyst Upgrades and Downgrades

PNR has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Pentair from $71.00 to $81.00 in a research report on Wednesday, July 19th. Seaport Res Ptn reiterated a “buy” rating on shares of Pentair in a research report on Monday, August 7th. TD Cowen raised their target price on shares of Pentair from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. StockNews.com assumed coverage on shares of Pentair in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Oppenheimer upped their target price on shares of Pentair from $78.00 to $80.00 in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.20.

Pentair Company Profile

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It 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 use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.