Cresset Asset Management LLC Has $8.03 Million Stock Holdings in Pentair plc (NYSE:PNR)

Cresset Asset Management LLC lowered its position in shares of Pentair plc (NYSE:PNR - Free Report) by 17.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,784 shares of the industrial products company's stock after selling 16,821 shares during the quarter. Cresset Asset Management LLC's holdings in Pentair were worth $8,029,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new stake in shares of Pentair during the third quarter worth approximately $302,000. Wilmington Savings Fund Society FSB bought a new stake in Pentair during the 3rd quarter worth approximately $117,000. Tidal Investments LLC increased its holdings in Pentair by 35.1% during the 3rd quarter. Tidal Investments LLC now owns 14,430 shares of the industrial products company's stock valued at $1,411,000 after purchasing an additional 3,752 shares in the last quarter. Franklin Resources Inc. raised its position in Pentair by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 32,249 shares of the industrial products company's stock valued at $3,187,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Pentair by 5.5% in the third quarter. Principal Financial Group Inc. now owns 219,061 shares of the industrial products company's stock worth $21,422,000 after purchasing an additional 11,392 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Northcoast Research upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. StockNews.com cut shares of Pentair from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. UBS Group dropped their target price on shares of Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Citigroup decreased their price target on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $106.93.

Insider Buying and Selling

In other news, Director David A. /Wi Jones sold 6,558 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 26,313 shares in the company, valued at $2,366,591.22. This 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 available through the SEC website. 1.10% of the stock is owned by company insiders.

Pentair Stock Up 0.2 %

Shares of Pentair stock opened at $91.76 on Thursday. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The business has a fifty day simple moving average of $86.40 and a 200 day simple moving average of $96.53. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.10 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.10. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. During the same period last year, the company posted $0.94 EPS. Research analysts predict that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's dividend payout ratio (DPR) is presently 25.84%.

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.

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