Pentair plc (NYSE:PNR) Shares Purchased by Spire Wealth Management

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Parvin Asset Management LLC acquired a new position in shares of Pentair during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Pentair during the 1st quarter worth approximately $28,000. Colonial Trust Co SC increased its position in Pentair by 230.8% during the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock worth $35,000 after purchasing an additional 240 shares in the last quarter. NBC Securities Inc. acquired a new stake in Pentair during the 1st quarter worth approximately $33,000. Finally, Versant Capital Management Inc increased its position in 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 purchasing an additional 285 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Insider Activity

In related news, Director David A. /Wi Jones sold 6,558 shares of the firm'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 transaction, the director now directly owns 26,313 shares in the company, valued at $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

PNR has been the subject of a number of research analyst reports. 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. Robert W. Baird dropped their target price on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Pentair from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada increased their target price on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Mizuho set a $100.00 target price on shares of Pentair in a research report on Tuesday, April 22nd. Two 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's stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of "Buy" and an average price target of $107.14.

Pentair Stock Up 0.9%

Shares of Pentair stock traded up $0.96 on Friday, hitting $103.60. 1,827,105 shares of the company's stock traded hands, compared to its average volume of 1,472,311. The stock has a market cap of $17.04 billion, a P/E ratio of 26.77, a PEG ratio of 1.93 and a beta of 1.10. The company has a quick ratio of 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 0.51. The firm's 50-day moving average is $95.85 and its 200 day moving average is $95.13. Pentair plc has a 52-week low of $73.45 and a 52-week high of $110.71.

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

Pentair Announces Dividend

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

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.