Bank of New York Mellon Corp Purchases 22,359 Shares of Pentair plc (NYSE:PNR)

Bank of New York Mellon Corp raised its holdings in Pentair plc (NYSE:PNR - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,032,427 shares of the industrial products company's stock after purchasing an additional 22,359 shares during the period. Bank of New York Mellon Corp owned 0.63% of Pentair worth $90,317,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PNR. Parvin Asset Management LLC purchased a new stake in Pentair in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Pentair during the 1st quarter worth $28,000. NBC Securities Inc. acquired a new stake in Pentair in the first quarter valued at approximately $33,000. Colonial Trust Co SC boosted its position in Pentair by 230.8% in the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock valued at $35,000 after buying an additional 240 shares during the last quarter. Finally, Horizon Financial Services LLC purchased a new stake in Pentair during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 92.37% of the company's stock.

Insider Buying and Selling at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the transaction, the director owned 26,313 shares of the company's stock, valued at approximately $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on PNR shares. Wall Street Zen raised Pentair from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. UBS Group cut 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. Barclays boosted their price objective on Pentair from $111.00 to $116.00 and gave the stock an "overweight" rating in a report on Wednesday. Mizuho set a $100.00 price objective on Pentair in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus reduced their price objective on Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $107.50.

Pentair Stock Performance

Pentair stock traded down $0.59 during mid-day trading on Friday, reaching $107.09. The company had a trading volume of 1,427,750 shares, compared to its average volume of 1,322,311. The company has a quick ratio of 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $99.47 and a 200-day moving average of $95.16. Pentair plc has a 52 week low of $74.25 and a 52 week high of $110.71. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.08 and a beta of 1.09.

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 (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. Pentair had a net margin of 15.87% and a return on equity of 21.24%. During the same quarter in the previous year, the firm posted $0.94 EPS. On average, sell-side analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. Pentair's payout ratio is presently 25.84%.

Pentair Company 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.