Cary Street Partners Financial LLC Takes $278,000 Position in Pentair plc (NYSE:PNR)

Cary Street Partners Financial LLC bought a new stake in Pentair plc (NYSE:PNR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,761 shares of the industrial products company's stock, valued at approximately $278,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Pentair by 27.9% in the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock valued at $197,482,000 after acquiring an additional 428,184 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Pentair by 219.0% during the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company's stock worth $60,863,000 after buying an additional 415,163 shares in the last quarter. FMR LLC increased its holdings in Pentair by 7.0% in the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock worth $614,030,000 after purchasing an additional 396,581 shares in the last quarter. Norges Bank acquired a new position in Pentair in the 4th quarter worth about $36,568,000. Finally, Allianz Asset Management GmbH increased its holdings in Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock worth $89,390,000 after purchasing an additional 357,523 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Insider Buying and Selling

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $89.94, for a total value of $589,826.52. Following the transaction, the director now directly owns 26,313 shares of the company's stock, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group reduced their price target on Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Royal Bank of Canada upped their price target on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group set a $95.00 target price on Pentair and gave the company a "neutral" rating in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.93.

Pentair Stock Performance

NYSE PNR traded up $0.34 during trading on Tuesday, reaching $98.50. The company's stock had a trading volume of 920,687 shares, compared to its average volume of 1,502,112. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $16.21 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The firm has a 50 day moving average price of $86.83 and a 200 day moving average price of $96.44.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.10. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period in the prior year, the firm posted $0.94 EPS. As a group, equities analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's dividend payout ratio is presently 25.84%.

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.