Inspire Advisors LLC raised its stake in shares of Pentair plc (NYSE:PNR – Free Report) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,214 shares of the industrial products company’s stock after acquiring an additional 574 shares during the period. Inspire Advisors LLC’s holdings in Pentair were worth $741,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Amundi lifted its position in shares of Pentair by 13.6% during the first quarter. Amundi now owns 4,974,612 shares of the industrial products company’s stock valued at $412,033,000 after purchasing an additional 594,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Pentair by 19.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,129,805 shares of the industrial products company’s stock valued at $361,275,000 after buying an additional 661,154 shares during the last quarter. Invesco Ltd. lifted its position in shares of Pentair by 16.5% during the 1st quarter. Invesco Ltd. now owns 3,829,985 shares of the industrial products company’s stock worth $335,047,000 after buying an additional 541,461 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Pentair by 6.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,183,831 shares of the industrial products company’s stock worth $224,192,000 after buying an additional 133,057 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Pentair by 7.3% in the 1st quarter. Northern Trust Corp now owns 2,105,727 shares of the industrial products company’s stock worth $184,209,000 after buying an additional 143,464 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.
Pentair Stock Performance
NYSE PNR opened at $102.07 on Wednesday. The company’s 50 day moving average is $109.03 and its 200-day moving average is $104.76. Pentair plc has a 12-month low of $74.25 and a 12-month high of $113.95. The company has a quick ratio of 0.82, a current ratio of 1.46 and a debt-to-equity ratio of 0.42. The firm has a market cap of $16.70 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14.
Pentair Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 24th were given a $0.25 dividend. The ex-dividend date was Friday, October 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Pentair’s payout ratio is 25.38%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Mizuho increased their price target on Pentair from $118.00 to $122.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Pentair from $116.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Oppenheimer increased their target price on shares of Pentair from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Pentair in a research note on Wednesday, October 8th. Finally, Robert W. Baird set a $130.00 price objective on Pentair in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.93.
Read Our Latest Research Report on PNR
Insider Buying and Selling at Pentair
In related news, CFO Robert P. Fishman sold 7,786 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $105.42, for a total transaction of $820,800.12. Following the sale, the chief financial officer directly owned 63,164 shares in the company, valued at approximately $6,658,748.88. The trade was a 10.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.45% of the company’s stock.
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.
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