Teacher Retirement System of Texas Sells 125,757 Shares of Pentair plc $PNR

Teacher Retirement System of Texas reduced its position in Pentair plc (NYSE:PNR) by 85.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,559 shares of the industrial products company’s stock after selling 125,757 shares during the period. Teacher Retirement System of Texas’ holdings in Pentair were worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PNR. Richardson Financial Services Inc. boosted its position in Pentair by 64.9% in the third quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Pentair by 105.4% in the second quarter. First Horizon Advisors Inc. now owns 345 shares of the industrial products company’s stock worth $35,000 after buying an additional 177 shares during the last quarter. Root Financial Partners LLC bought a new stake in Pentair during the third quarter valued at approximately $41,000. CYBER HORNET ETFs LLC purchased a new stake in Pentair during the second quarter valued at approximately $45,000. Finally, CoreCap Advisors LLC raised its position in Pentair by 58.8% in the third quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

PNR stock opened at $105.82 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 1.46. The company’s fifty day moving average price is $105.07 and its 200-day moving average price is $106.58. Pentair plc has a one year low of $74.25 and a one year high of $113.95. The company has a market capitalization of $17.32 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22.

Pentair Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Pentair from a “hold” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $135.00 in a research report on Wednesday, December 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Pentair in a research report on Thursday, January 22nd. Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. BNP Paribas Exane lowered shares of Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 target price for the company. in a report on Wednesday, January 7th. Finally, UBS Group lifted their price target on shares of Pentair from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Insider Activity

In other news, CFO Robert P. Fishman sold 7,786 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,658,748.88. This represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director T Michael Glenn sold 6,558 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $104.33, for a total value of $684,196.14. Following the transaction, the director owned 31,192 shares of the company’s stock, valued at $3,254,261.36. This represents a 17.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

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.