Barnes Dennig Private Wealth Management LLC Purchases New Holdings in Pentair plc (NYSE:PNR)

Barnes Dennig Private Wealth Management LLC purchased a new position in Pentair plc (NYSE:PNR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,332 shares of the industrial products company's stock, valued at approximately $1,429,000. Pentair comprises about 2.2% of Barnes Dennig Private Wealth Management LLC's portfolio, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parvin Asset Management LLC purchased a new stake in Pentair during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair during the 1st quarter worth about $28,000. NBC Securities Inc. purchased a new stake in shares of Pentair during the first quarter worth about $33,000. Colonial Trust Co SC raised its position in shares of Pentair by 230.8% in the fourth 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, Versant Capital Management Inc raised its position in shares of Pentair by 128.4% in the first quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company's stock valued at $44,000 after buying an additional 285 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the sale, the director owned 26,313 shares in the company, valued at $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird lowered their target price on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Mizuho set a $100.00 price objective on Pentair in a report on Tuesday, April 22nd. The Goldman Sachs Group set a $95.00 target price on Pentair and gave the company a "neutral" rating in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their price target on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada upped their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Pentair presently has an average rating of "Buy" and an average target price of $107.14.

Pentair Trading Up 1.0%

PNR stock traded up $1.01 during midday trading on Friday, reaching $106.87. 1,008,548 shares of the company's stock traded hands, compared to its average volume of 1,465,731. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.22. Pentair plc has a fifty-two week low of $73.45 and a fifty-two week high of $110.71. The business has a 50-day moving average price of $98.20 and a two-hundred day moving average price of $95.02. The company has a market capitalization of $17.58 billion, a P/E ratio of 27.62, a PEG ratio of 2.06 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 for the quarter, topping analysts' consensus estimates of $1.01 by $0.10. Pentair had a net margin of 15.87% and a return on equity of 21.24%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $988.38 million. During the same period in the prior year, the company earned $0.94 EPS. Equities research analysts forecast that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's dividend payout ratio (DPR) 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.