Strs Ohio Cuts Position in Pentair plc $PNR

Strs Ohio decreased its stake in Pentair plc (NYSE:PNR) by 27.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,911 shares of the industrial products company’s stock after selling 73,710 shares during the period. Strs Ohio owned approximately 0.12% of Pentair worth $21,588,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Pentair by 5.9% in the second quarter. State Street Corp now owns 8,970,940 shares of the industrial products company’s stock valued at $920,957,000 after buying an additional 501,506 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Pentair by 173.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,837,753 shares of the industrial products company’s stock worth $311,046,000 after acquiring an additional 1,800,669 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Pentair by 6.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,333,689 shares of the industrial products company’s stock valued at $258,479,000 after purchasing an additional 149,858 shares in the last quarter. ProShare Advisors LLC increased its stake in Pentair by 9.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,844,943 shares of the industrial products company’s stock valued at $189,402,000 after purchasing an additional 159,438 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Pentair by 37.6% during the second quarter. Ameriprise Financial Inc. now owns 1,565,882 shares of the industrial products company’s stock worth $160,751,000 after purchasing an additional 428,200 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity at Pentair

In other Pentair 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 value of $820,800.12. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director T Michael Glenn sold 6,558 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $104.33, for a total value of $684,196.14. Following the sale, the director owned 31,192 shares in the company, valued at $3,254,261.36. This trade represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

Pentair Price Performance

NYSE:PNR opened at $107.65 on Friday. Pentair plc has a 12-month low of $74.25 and a 12-month high of $113.95. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.89 and a beta of 1.22. The company’s 50-day moving average is $104.70 and its two-hundred day moving average is $106.59. The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.0%. This is an increase from Pentair’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 23rd. Pentair’s dividend payout ratio (DPR) is 27.41%.

Analysts Set New Price Targets

PNR has been the topic of several research reports. Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Wolfe Research reissued an “outperform” rating and issued a $135.00 price objective on shares of Pentair in a research note on Tuesday, December 9th. Citigroup dropped their target price on shares of Pentair from $135.00 to $126.00 and set a “buy” rating for the company in a report on Monday, January 12th. Barclays cut shares of Pentair from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $127.00 to $115.00 in a research report on Thursday, December 4th. Finally, Robert W. Baird set a $130.00 price target on shares of Pentair in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.47.

Pentair Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.