Exchange Traded Concepts LLC Raises Stock Holdings in Pentair plc (NYSE:PNR)

Exchange Traded Concepts LLC increased its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 35.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,770 shares of the industrial products company's stock after purchasing an additional 7,977 shares during the period. Exchange Traded Concepts LLC's holdings in Pentair were worth $2,692,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new position in Pentair in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Pentair during the 1st quarter valued at about $28,000. NBC Securities Inc. purchased a new position in shares of Pentair in the 1st quarter worth about $33,000. Colonial Trust Co SC boosted its holdings in shares of Pentair by 230.8% in the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock worth $35,000 after purchasing an additional 240 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Pentair by 128.4% in the 1st quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 285 shares during the last quarter. Institutional investors own 92.37% of the company's stock.

Insiders Place Their Bets

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

Pentair Trading Up 0.6%

Shares of PNR traded up $0.60 during mid-day trading on Thursday, reaching $96.83. 1,277,149 shares of the company's stock traded hands, compared to its average volume of 1,490,412. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The stock has a market cap of $15.93 billion, a P/E ratio of 25.02, a P/E/G ratio of 1.86 and a beta of 1.10. The stock's 50-day moving average is $93.97 and its two-hundred day moving average is $95.40. 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 (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a return on equity of 21.24% and a net margin of 15.87%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $988.38 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Research analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced 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 yield of 1.03%. Pentair's dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PNR shares. Wall Street Zen upgraded Pentair from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Royal Bank Of Canada upped their price target on Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Robert W. Baird cut their price target on Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, 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. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Pentair has an average rating of "Buy" and an average price target of $107.14.

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.