Pentair plc (NYSE:PNR) Holdings Increased by Spire Wealth Management

Spire Wealth Management increased its position in shares of Pentair plc (NYSE:PNR - Free Report) by 2,487.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,428 shares of the industrial products company's stock after buying an additional 15,793 shares during the period. Spire Wealth Management's holdings in Pentair were worth $1,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company's stock worth $2,034,575,000 after acquiring an additional 148,031 shares during the last quarter. FMR LLC grew its stake in Pentair by 7.0% during the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock valued at $614,030,000 after purchasing an additional 396,581 shares in the last quarter. Geode Capital Management LLC increased its holdings in Pentair by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company's stock worth $410,240,000 after purchasing an additional 87,244 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Pentair by 6.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,468,651 shares of the industrial products company's stock valued at $349,085,000 after purchasing an additional 217,867 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Pentair by 27.9% in the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock valued at $197,482,000 after purchasing an additional 428,184 shares in the last quarter. Institutional investors and hedge funds 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 value of $589,826.52. Following the completion of the transaction, the director owned 26,313 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link. 1.45% of the stock is owned by insiders.

Pentair Stock Performance

Shares of PNR traded down $0.88 during midday trading on Monday, hitting $102.70. 1,693,972 shares of the stock traded hands, compared to its average volume of 1,464,192. Pentair plc has a 1-year low of $73.45 and a 1-year high of $110.71. The firm has a market capitalization of $16.90 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.89. The business's 50 day moving average price is $96.79 and its two-hundred day moving average price is $94.87.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.10. Pentair had a net margin of 15.87% and a return on equity of 21.24%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. During the same period last year, the firm posted $0.94 EPS. Equities research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PNR. Barclays lifted their price target on shares of Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the stock a "neutral" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised shares of Pentair from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $90.00 to $113.00 in a research report on Friday, May 16th. Citigroup decreased their price target on Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Robert W. Baird cut their price objective on Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Two equities research 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, the stock currently has a consensus 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.