California Public Employees Retirement System Buys 27,519 Shares of Pentair plc (NYSE:PNR)

California Public Employees Retirement System lifted its stake in Pentair plc (NYSE:PNRFree Report) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 339,190 shares of the industrial products company’s stock after buying an additional 27,519 shares during the quarter. California Public Employees Retirement System owned about 0.21% of Pentair worth $21,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its stake in shares of Pentair by 935.1% in the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after buying an additional 346 shares during the period. IFP Advisors Inc raised its stake in Pentair by 97.6% during the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares during the period. Baystate Wealth Management LLC bought a new stake in Pentair during the 3rd quarter valued at approximately $30,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in Pentair during the 1st quarter valued at approximately $49,000. Finally, Ancora Advisors LLC bought a new stake in Pentair during the 1st quarter valued at approximately $56,000. Institutional investors own 88.60% of the company’s stock.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 4,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.77, for a total value of $243,080.00. Following the completion of the sale, the executive vice president now directly owns 18,535 shares in the company, valued at approximately $1,126,371.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Philip M. Rolchigo sold 4,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.77, for a total value of $243,080.00. Following the completion of the transaction, the executive vice president now directly owns 18,535 shares of the company’s stock, valued at approximately $1,126,371.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David A. /Wi Jones sold 2,260 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $67.85, for a total value of $153,341.00. Following the completion of the transaction, the director now directly owns 23,081 shares of the company’s stock, valued at $1,566,045.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,520 shares of company stock worth $541,965. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PNR has been the topic of several recent analyst reports. KeyCorp raised Pentair from a “sector weight” rating to an “overweight” rating and set a $82.00 target price on the stock in a research note on Wednesday, December 13th. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $76.00 in a research note on Thursday, January 11th. UBS Group lifted their price objective on Pentair from $72.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Barclays reduced their price objective on Pentair from $82.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada raised Pentair from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $75.00 to $79.00 in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.13.

Check Out Our Latest Analysis on Pentair

Pentair Trading Up 0.4 %

PNR traded up $0.29 during trading hours on Friday, reaching $72.45. 492,651 shares of the company’s stock traded hands, compared to its average volume of 1,408,476. The firm has a 50-day moving average price of $68.78 and a 200 day moving average price of $66.67. Pentair plc has a 52-week low of $50.15 and a 52-week high of $73.26. The company has a quick ratio of 0.79, a current ratio of 1.50 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $11.98 billion, a PE ratio of 23.50, a PEG ratio of 1.75 and a beta of 1.20.

Pentair (NYSE:PNRGet Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Pentair had a return on equity of 21.35% and a net margin of 12.36%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $992.23 million. During the same quarter in the previous year, the business earned $0.99 EPS. Pentair’s revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts predict that Pentair plc will post 3.74 EPS for the current fiscal year.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 10th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. This is a boost from Pentair’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 18th. Pentair’s dividend payout ratio is currently 29.97%.

Pentair Company Profile

(Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.

See Also

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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