Massachusetts Financial Services Co. MA Decreases Stock Position in Pentair plc (NYSE:PNR)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Pentair plc (NYSE:PNR) by 0.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,081,781 shares of the industrial products company’s stock after selling 581 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Pentair were worth $203,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PNR. Opal Wealth Advisors LLC purchased a new stake in shares of Pentair during the second quarter valued at $25,000. Crewe Advisors LLC boosted its holdings in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 267 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Pentair in the second quarter worth approximately $48,000. Blue Trust Inc. grew its stake in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Pentair during the first quarter valued at approximately $56,000. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PNR shares. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. KeyCorp lifted their price objective on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price target on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and an average target price of $105.13.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Pentair Price Performance

NYSE:PNR opened at $106.91 on Friday. The business’s 50-day simple moving average is $99.07 and its two-hundred day simple moving average is $87.97. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a 52 week low of $62.63 and a 52 week high of $107.78. The stock has a market cap of $17.66 billion, a PE ratio of 26.73, a P/E/G ratio of 1.89 and a beta of 1.19.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, analysts forecast that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.86%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Pentair Profile

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.