Miracle Mile Advisors LLC Sells 286 Shares of Pentair plc (NYSE:PNR)

Miracle Mile Advisors LLC trimmed its position in Pentair plc (NYSE:PNR) by 2.1% in the first quarter, Holdings Channel.com reports. The firm owned 13,105 shares of the industrial products company’s stock after selling 286 shares during the period. Miracle Mile Advisors LLC’s holdings in Pentair were worth $1,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new stake in shares of Pentair during the 4th quarter worth approximately $25,000. NBC Securities Inc. bought a new position in Pentair in the first quarter valued at approximately $33,000. Colonial Trust Co SC boosted its stake in Pentair by 230.8% in the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 240 shares during the last quarter. Versant Capital Management Inc grew its holdings in Pentair by 128.4% during the 1st quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 285 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Pentair during the 4th quarter valued at $55,000. 92.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on PNR shares. Royal Bank of Canada lifted their price objective on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Barclays raised their target price on Pentair from $110.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Citigroup lowered their price target on Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the company a “neutral” rating in a research report on Tuesday, April 22nd. Finally, Mizuho set a $100.00 price objective on shares of Pentair in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Pentair currently has an average rating of “Buy” and an average target price of $107.14.

Insider Activity at Pentair

In other news, Director David A. /Wi Jones sold 6,558 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $89.94, for a total value of $589,826.52. Following the sale, the director now owns 26,313 shares of the company’s stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Pentair Stock Up 0.2%

Pentair stock opened at $99.70 on Tuesday. The company has a 50 day moving average of $91.10 and a 200-day moving average of $95.83. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The stock has a market capitalization of $16.40 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period in the prior year, the business earned $0.94 EPS. On average, equities research analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

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

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.