Park Avenue Securities LLC lessened its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 45.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,987 shares of the industrial products company's stock after selling 10,725 shares during the period. Park Avenue Securities LLC's holdings in Pentair were worth $1,136,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNR. Stratos Wealth Partners LTD. purchased a new position in Pentair in the 4th quarter worth $289,000. Kingsview Wealth Management LLC raised its stake in Pentair by 100.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 5,072 shares of the industrial products company's stock worth $510,000 after acquiring an additional 2,544 shares during the last quarter. Savant Capital LLC raised its stake in Pentair by 1.7% in the 4th quarter. Savant Capital LLC now owns 19,773 shares of the industrial products company's stock worth $1,990,000 after acquiring an additional 324 shares during the last quarter. Van ECK Associates Corp raised its stake in Pentair by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 27,893 shares of the industrial products company's stock worth $2,807,000 after acquiring an additional 167 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Pentair by 3.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 71,861 shares of the industrial products company's stock worth $7,268,000 after acquiring an additional 2,366 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company's stock.
Insider Transactions at Pentair
In related news, Director David A. /Wi Jones sold 6,558 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the transaction, the director now directly owns 26,313 shares in the company, valued at approximately $2,366,591.22. This represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on PNR shares. Stifel Nicolaus reduced their price objective on Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a research note 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. Barclays lifted their price objective on Pentair from $110.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. upgraded Pentair from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $90.00 to $113.00 in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $107.14.
Check Out Our Latest Report on PNR
Pentair Price Performance
Shares of Pentair stock traded down $2.38 on Friday, hitting $96.53. The company's stock had a trading volume of 761,210 shares, compared to its average volume of 1,493,813. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The firm has a fifty day moving average price of $92.72 and a 200-day moving average price of $95.73. The company has a market capitalization of $15.88 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10.
Pentair (NYSE:PNR - Get Free Report) last posted 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 20.94% and a net margin of 15.32%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $988.38 million. During the same period in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.
Pentair Announces Dividend
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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, July 18th. Pentair's payout ratio is 25.84%.
About Pentair
(
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.
See Also
Before you consider Pentair, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pentair wasn't on the list.
While Pentair currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
