Nisa Investment Advisors LLC lessened its position in Pentair plc (NYSE:PNR - Free Report) by 25.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 44,327 shares of the industrial products company's stock after selling 15,406 shares during the period. Nisa Investment Advisors LLC's holdings in Pentair were worth $3,878,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC purchased a new stake in shares of Pentair during the 4th quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair in the first quarter valued at about $28,000. Colonial Trust Co SC boosted its holdings in Pentair by 230.8% during the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock worth $35,000 after buying an additional 240 shares in the last quarter. NBC Securities Inc. acquired a new position in Pentair during the first quarter worth about $33,000. Finally, North Capital Inc. purchased a new position in Pentair in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 92.37% of the company's stock.
Analyst Ratings Changes
A number of research analysts have issued reports on PNR shares. Barclays increased their target price on shares of Pentair from $111.00 to $116.00 and gave the company an "overweight" rating in a report on Wednesday. Mizuho set a $100.00 target price on shares of Pentair in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their target price on shares of Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Citigroup dropped their target price on shares of Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a report on Monday, April 14th. 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 report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Pentair currently has an average rating of "Buy" and a consensus price target of $107.50.
Read Our Latest Research Report on Pentair
Pentair Trading Down 0.5%
PNR stock traded down $0.59 during midday trading on Friday, hitting $107.09. The stock had a trading volume of 1,427,750 shares, compared to its average volume of 1,463,761. The company's 50-day moving average price is $99.75 and its 200 day moving average price is $95.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.22. The firm has a market cap of $17.62 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 2.07 and a beta of 1.09. Pentair plc has a 12-month low of $74.25 and a 12-month high of $110.71.
Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.10. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.38 million. Pentair had a return on equity of 21.24% and a net margin of 15.87%. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, equities research analysts predict that Pentair plc will post 4.77 earnings per share for the current fiscal year.
Pentair Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. Pentair's dividend payout ratio (DPR) is presently 25.84%.
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 directly owned 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. 1.10% of the stock is owned by corporate insiders.
Pentair Company Profile
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Free Report)
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.
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