Everence Capital Management Inc. Purchases New Position in Pentair PLC (PNR)
Everence Capital Management Inc. purchased a new position in shares of Pentair PLC (NYSE:PNR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,430 shares of the industrial products company’s stock, valued at approximately $432,000.
Several other hedge funds have also recently bought and sold shares of the company. Mercer Capital Advisers Inc. raised its holdings in shares of Pentair by 52.0% in the 4th quarter. Mercer Capital Advisers Inc. now owns 1,900 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 650 shares in the last quarter. ETF Managers Group LLC grew its position in Pentair by 19.6% during the 4th quarter. ETF Managers Group LLC now owns 1,984 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 325 shares during the last quarter. Capital Advisors Ltd. LLC bought a new position in Pentair during the 3rd quarter worth approximately $142,000. Stratos Wealth Partners LTD. bought a new position in Pentair during the 3rd quarter worth approximately $168,000. Finally, Private Advisor Group LLC bought a new position in Pentair during the 3rd quarter worth approximately $204,000. Institutional investors own 85.63% of the company’s stock.
Shares of PNR stock opened at $41.09 on Tuesday. The company has a market capitalization of $7.12 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.55 and a beta of 1.27. Pentair PLC has a fifty-two week low of $35.30 and a fifty-two week high of $73.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 1.27.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Stockholders of record on Friday, January 25th were given a $0.18 dividend. This is a positive change from Pentair’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, January 24th. Pentair’s dividend payout ratio (DPR) is currently 30.64%.
In other news, COO Karl R. Frykman sold 10,241 shares of Pentair stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $41.28, for a total value of $422,748.48. Following the sale, the chief operating officer now directly owns 60,877 shares in the company, valued at approximately $2,513,002.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Ademir Sarcevic sold 1,287 shares of Pentair stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $37.61, for a total value of $48,404.07. The disclosure for this sale can be found here. 10.70% of the stock is currently owned by company insiders.
PNR has been the topic of several recent research reports. ValuEngine lowered Pentair from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 17th. Stifel Nicolaus upgraded Pentair from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Pentair from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Finally, JPMorgan Chase & Co. raised their price target on Pentair from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $51.09.
Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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