Ethic Inc. Has $4.87 Million Stake in Pentair plc $PNR

Key Points

• Ethic Inc. increased its Pentair stake by 59.6% in the fourth quarter, ending with 46,746 shares valued at about $4.87 million.
• Pentair reported better-than-expected quarterly results, posting EPS of $1.22 versus estimates of $1.17 and revenue of $1.04 billion, up 2.6% year over year.
• The company also announced a quarterly dividend of $0.27 per share, and analysts currently have a consensus rating of Hold with an average price target of $107.86.

Ethic Inc. raised its stake in Pentair plc (NYSE:PNR - Free Report) by 59.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,746 shares of the industrial products company's stock after acquiring an additional 17,465 shares during the quarter. Ethic Inc.'s holdings in Pentair were worth $4,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wexford Capital LP bought a new position in Pentair in the 3rd quarter valued at approximately $26,000. Richardson Financial Services Inc. increased its holdings in shares of Pentair by 64.9% during the third quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company's stock worth $28,000 after buying an additional 98 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Pentair during the third quarter worth $41,000. CoreCap Advisors LLC lifted its stake in shares of Pentair by 58.8% in the 3rd quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 150 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its stake in shares of Pentair by 86.4% in the 3rd quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 204 shares during the last quarter. 92.37% of the stock is owned by institutional investors.

Insider Activity at Pentair

In other news, Director Michael T. Speetzen sold 7,000 shares of the company's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $99.99, for a total value of $699,930.00. Following the sale, the director directly owned 8,290 shares of the company's stock, valued at approximately $828,917.10. This represents a 45.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Philip M. Rolchigo sold 6,493 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $103.22, for a total transaction of $670,207.46. Following the sale, the executive vice president owned 29,096 shares of the company's stock, valued at approximately $3,003,289.12. This trade represents a 18.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.26% of the stock is currently owned by company insiders.

Pentair Stock Down 0.0%

Shares of NYSE:PNR opened at $76.79 on Monday. The firm has a market cap of $12.41 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.30 and a beta of 1.10. Pentair plc has a 12-month low of $76.69 and a 12-month high of $113.95. The business has a fifty day simple moving average of $89.15 and a 200 day simple moving average of $99.17. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company posted $1.11 EPS. The business's revenue was up 2.6% on a year-over-year basis. Analysts predict that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 24th. Pentair's dividend payout ratio is currently 26.47%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PNR. Weiss Ratings lowered Pentair from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 8th. Citigroup dropped their target price on Pentair from $112.00 to $106.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Seaport Research Partners cut their price target on Pentair from $130.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Barclays lowered their price objective on Pentair from $95.00 to $92.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. Finally, Oppenheimer dropped their price objective on shares of Pentair from $122.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $107.86.

Pentair Profile

Pentair plc NYSE: PNR is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair's offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.

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