GAMMA Investing LLC Buys 343,294 Shares of Pentair plc (NYSE:PNR)

GAMMA Investing LLC grew its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 9,873.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,771 shares of the industrial products company's stock after buying an additional 343,294 shares during the quarter. GAMMA Investing LLC owned 0.21% of Pentair worth $30,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNR. Parvin Asset Management LLC bought a new stake in Pentair in the fourth quarter worth about $25,000. Colonial Trust Co SC lifted its position in shares of Pentair by 230.8% during 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. Versant Capital Management Inc grew its stake in shares of Pentair by 128.4% during the 1st quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company's stock worth $44,000 after acquiring an additional 285 shares during the period. Proficio Capital Partners LLC purchased a new stake in Pentair in the 4th quarter worth about $55,000. Finally, Park Square Financial Group LLC bought a new stake in Pentair in the 4th quarter valued at about $57,000. 92.37% of the stock is owned by institutional investors.

Pentair Trading Down 0.1%

PNR traded down $0.12 during midday trading on Friday, reaching $99.59. 1,252,397 shares of the company's stock traded hands, compared to its average volume of 1,499,197. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The firm has a fifty day moving average of $90.66 and a two-hundred day moving average of $96.05. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.87 and a beta of 1.10.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period in the prior year, the business earned $0.94 EPS. On average, equities analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed 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 1.00%. The ex-dividend date is Friday, July 18th. Pentair's dividend payout ratio (DPR) is 25.84%.

Insiders Place Their Bets

In other Pentair 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 sale, the director now directly owns 26,313 shares in the company, valued at approximately $2,366,591.22. This trade 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. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PNR shares. Stifel Nicolaus lowered their target price on shares of Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen upgraded Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Royal Bank of Canada lifted their price objective on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Finally, UBS Group dropped their target price on shares of Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $107.14.

About Pentair

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.