Pentair plc (NYSE:PNR) Shares Sold by USA Financial Formulas

USA Financial Formulas reduced its position in Pentair plc (NYSE:PNR) by 11.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,161 shares of the industrial products company’s stock after selling 412 shares during the quarter. USA Financial Formulas’ holdings in Pentair were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PNR. State Street Corp lifted its holdings in shares of Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after purchasing an additional 259,922 shares during the period. FMR LLC lifted its holdings in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares during the period. Millennium Management LLC lifted its holdings in shares of Pentair by 0.7% during the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after purchasing an additional 20,946 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after purchasing an additional 53,787 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Trading Up 1.1 %

Shares of PNR stock opened at $102.64 on Friday. Pentair plc has a fifty-two week low of $69.42 and a fifty-two week high of $110.71. The stock has a market cap of $16.96 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.55 and a beta of 1.21. The business has a fifty day simple moving average of $104.29 and a 200-day simple moving average of $94.52. 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 (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million during 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 firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio (DPR) is currently 23.00%.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The stock was 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 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 document filed with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNR has been the subject of several recent research reports. Oppenheimer increased their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. UBS Group increased their price target on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays increased their price objective on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. TD Cowen increased their price objective on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wolfe Research started coverage on Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.13.

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.