Pentair plc (NYSE:PNR) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in Pentair plc (NYSE:PNR - Free Report) by 35.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 30,770 shares of the industrial products company's stock after acquiring an additional 7,977 shares during the quarter. Exchange Traded Concepts LLC's holdings in Pentair were worth $2,692,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its position in shares of Pentair by 44.7% in the first quarter. Ritholtz Wealth Management now owns 3,031 shares of the industrial products company's stock valued at $265,000 after purchasing an additional 937 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair in the first quarter worth approximately $28,000. Fifth Third Bancorp boosted its stake in Pentair by 6.6% during the 1st quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock worth $356,000 after purchasing an additional 253 shares during the last quarter. CX Institutional boosted its stake in Pentair by 12.8% during the 1st quarter. CX Institutional now owns 2,751 shares of the industrial products company's stock worth $241,000 after purchasing an additional 313 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Pentair by 229.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 786,362 shares of the industrial products company's stock worth $68,791,000 after purchasing an additional 547,419 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PNR. Citigroup lowered their price target on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Robert W. Baird lowered their price target on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Baird R W raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the company a "neutral" rating in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Pentair from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $107.14.

Insider Activity

In other news, Director David A. /Wi Jones sold 6,558 shares of the company's 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 directly owns 26,313 shares in the company, valued at $2,366,591.22. This represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.10% of the company's stock.

Pentair Stock Up 0.3%

Shares of NYSE PNR traded up $0.25 during mid-day trading on Friday, hitting $97.19. The company had a trading volume of 2,422,324 shares, compared to its average volume of 1,489,691. The company has a market capitalization of $15.99 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. 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 1-year low of $72.63 and a 1-year high of $110.71. The business's 50-day simple moving average is $94.27 and its 200 day simple moving average is $95.23.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 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 analyst estimates of $988.38 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, analysts predict that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's dividend payout ratio 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.