Crossmark Global Holdings Inc. Purchases 12,069 Shares of Pentair plc (NYSE:PNR)

Crossmark Global Holdings Inc. lifted its position in shares of Pentair plc (NYSE:PNR) by 150.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,098 shares of the industrial products company’s stock after purchasing an additional 12,069 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Pentair were worth $2,023,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP boosted its position in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Eastern Bank raised its holdings in shares of Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 300 shares during the period. Blue Trust Inc. raised its holdings in shares of Pentair by 165.2% during 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. Friedenthal Financial acquired a new stake in shares of Pentair during the fourth quarter worth $56,000. Finally, True Wealth Design LLC raised its holdings in shares of Pentair by 4,450.0% during the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 623 shares during the period. 92.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PNR has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective on the stock. Oppenheimer raised their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. Finally, StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $111.13.

Pentair Stock Down 0.4 %

Pentair stock opened at $104.23 on Friday. The firm has a market capitalization of $17.22 billion, a PE ratio of 26.06, a P/E/G ratio of 1.68 and a beta of 1.21. The company’s 50-day moving average is $104.17 and its 200-day moving average is $95.54. Pentair plc has a fifty-two week low of $70.59 and a fifty-two week high of $110.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. Sell-side analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.25 per share. This is an increase from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. Pentair’s payout ratio is presently 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 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 owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

About Pentair

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.