Opal Wealth Advisors LLC Acquires Shares of 320 Pentair plc (NYSE:PNR)

Opal Wealth Advisors LLC acquired a new stake in shares of Pentair plc (NYSE:PNR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 320 shares of the industrial products company’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Pentair by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock worth $2,034,575,000 after purchasing an additional 148,031 shares during the period. FMR LLC raised its position in shares of Pentair by 7.0% during the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock worth $614,030,000 after purchasing an additional 396,581 shares during the period. Geode Capital Management LLC raised its position in shares of Pentair by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock worth $410,240,000 after purchasing an additional 87,244 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Pentair by 6.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,468,651 shares of the industrial products company’s stock worth $349,085,000 after purchasing an additional 217,867 shares during the period. Finally, Northern Trust Corp raised its position in shares of Pentair by 27.9% during the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock worth $197,482,000 after purchasing an additional 428,184 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Activity at Pentair

In related news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction on Monday, April 28th. The stock was 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 owns 26,313 shares of the company’s stock, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair Stock Performance

Shares of Pentair stock opened at $97.71 on Tuesday. The stock has a market cap of $16.08 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The business has a fifty day simple moving average of $93.15 and a 200-day simple moving average of $95.47. 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 12 month low of $72.63 and a 12 month high of $110.71.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.01 by $0.10. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same quarter last year, the firm posted $0.94 earnings per share. On average, sell-side 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 given 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 yield of 1.02%. Pentair’s payout ratio is 25.84%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PNR. Citigroup dropped their price target on Pentair from $118.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. UBS Group lowered their target price on Pentair from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Barclays raised their target price on Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group set a $95.00 target price on Pentair and gave the company a “neutral” rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upgraded Pentair from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $113.00 in a research report on Friday, May 16th. Two research 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.com, the stock has a consensus rating of “Buy” and an average price target of $107.14.

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.