Pentair plc (NYSE:PNR) Holdings Lifted by Versant Capital Management Inc

Versant Capital Management Inc grew its holdings in shares of Pentair plc (NYSE:PNR) by 128.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507 shares of the industrial products company’s stock after purchasing an additional 285 shares during the period. Versant Capital Management Inc’s holdings in Pentair were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PNR. Parvin Asset Management LLC bought a new stake in shares of Pentair during the 4th quarter worth $25,000. Colonial Trust Co SC boosted its position in shares of Pentair by 230.8% in the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock worth $35,000 after buying an additional 240 shares during the period. Proficio Capital Partners LLC acquired a new stake in Pentair during the 4th quarter worth about $55,000. Park Square Financial Group LLC acquired a new stake in shares of Pentair during the fourth quarter worth approximately $57,000. Finally, Intact Investment Management Inc. acquired a new stake in Pentair during the fourth quarter valued at $60,000. 92.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Robert W. Baird cut their price objective on Pentair from $114.00 to $107.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group set a $95.00 price objective on Pentair and gave the stock a “neutral” rating in a research report on Tuesday, April 22nd. Citigroup cut their price target on Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus cut their price target on Pentair from $125.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pentair has a consensus rating of “Buy” and an average price target of $107.14.

Pentair Price Performance

Pentair stock opened at $99.70 on Friday. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $90.66 and its 200 day simple moving average is $96.05. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.87 and a beta of 1.10.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $988.38 million. During the same quarter in the prior year, the firm posted $0.94 EPS. Sell-side analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. Pentair’s dividend payout ratio is currently 25.84%.

Insider Buying and Selling

In related news, Director David A. /Wi Jones sold 6,558 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the sale, the director now directly owns 26,313 shares of the company’s stock, valued at $2,366,591.22. This represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Pentair 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.