Independent Advisor Alliance Increases Position in Pentair plc (NYSE:PNR)

Independent Advisor Alliance increased its stake in Pentair plc (NYSE:PNR) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,525 shares of the industrial products company’s stock after purchasing an additional 170 shares during the quarter. Independent Advisor Alliance’s holdings in Pentair were worth $736,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Pentair in the 2nd quarter worth approximately $25,000. Crewe Advisors LLC raised its holdings in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. bought a new stake in shares of Pentair in the 2nd quarter worth approximately $48,000. Blue Trust Inc. raised its holdings in shares of Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Pentair in the 1st quarter worth approximately $58,000. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 0.1 %

Shares of NYSE:PNR opened at $108.96 on Thursday. Pentair plc has a 52-week low of $63.09 and a 52-week high of $110.71. The firm has a fifty day moving average of $99.99 and a 200 day moving average of $88.57. The firm has a market capitalization of $18.00 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last announced 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. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.84%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Insider Buying and Selling

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PNR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Pentair in a report on Thursday, November 21st. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday. They set an “outperform” rating and a $125.00 target price on the stock. UBS Group boosted their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer boosted their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.38.

Pentair Company 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.