Pentair plc (NYSE:PNR) Stock Holdings Raised by CX Institutional

CX Institutional raised its stake in Pentair plc (NYSE:PNR) by 12.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,751 shares of the industrial products company’s stock after purchasing an additional 313 shares during the period. CX Institutional’s holdings in Pentair were worth $241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Pentair by 55.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 287 shares during the last quarter. Norges Bank bought a new stake in shares of Pentair in the 4th quarter worth about $36,568,000. Atria Wealth Solutions Inc. increased its position in shares of Pentair by 91.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,150 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 1,986 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Pentair by 0.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 32,225 shares of the industrial products company’s stock valued at $3,243,000 after buying an additional 191 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Pentair during the 4th quarter valued at about $55,000. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the subject of a number of recent research reports. UBS Group lowered their price objective on shares of Pentair from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. Mizuho set a $100.00 price objective on shares of Pentair in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus lowered their price objective on shares of Pentair from $125.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $107.14.

Insider Buying and Selling

In related news, Director David A. /Wi Jones sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the sale, the director now directly owns 26,313 shares in the company, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Pentair Trading Down 2.4%

Shares of NYSE:PNR opened at $96.53 on Friday. The company has a 50 day moving average of $92.72 and a 200-day moving average of $95.64. The firm has a market cap of $15.88 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.87 and a beta of 1.10. Pentair plc has a twelve month low of $72.63 and a twelve 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.

Pentair (NYSE:PNR) last issued its quarterly 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 company 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 posted $0.94 EPS. As a group, analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, July 18th. Pentair’s dividend payout ratio is currently 25.84%.

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.