Intech Investment Management LLC Sells 12,428 Shares of Pentair plc (NYSE:PNR)

Intech Investment Management LLC lessened its holdings in shares of Pentair plc (NYSE:PNR) by 29.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,944 shares of the industrial products company’s stock after selling 12,428 shares during the period. Intech Investment Management LLC’s holdings in Pentair were worth $2,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNR. Opal Wealth Advisors LLC purchased a new position in shares of Pentair during the second quarter valued at approximately $25,000. Crewe Advisors LLC increased its position in 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 purchasing an additional 267 shares during the period. Family Firm Inc. purchased a new stake in shares of Pentair in the 2nd quarter worth about $48,000. Blue Trust Inc. boosted its stake in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Pentair during the first quarter valued at about $56,000. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PNR shares. UBS Group lifted their price objective on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their price target on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Barclays upped their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.13.

Pentair Price Performance

Shares of NYSE PNR opened at $106.93 on Friday. The firm has a market cap of $17.67 billion, a P/E ratio of 26.73, a PEG ratio of 1.89 and a beta of 1.19. Pentair plc has a twelve month low of $62.63 and a twelve month high of $107.78. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $99.38 and a 200 day moving average of $88.18.

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

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date 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 is presently 23.00%.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate 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.