Vest Financial LLC Has $46.12 Million Position in Pentair plc (NYSE:PNR)

Vest Financial LLC cut its position in shares of Pentair plc (NYSE:PNR - Free Report) by 7.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 527,185 shares of the industrial products company's stock after selling 43,907 shares during the period. Vest Financial LLC owned about 0.32% of Pentair worth $46,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PNR. Blue Trust Inc. grew its stake in Pentair by 59.6% during the 4th quarter. Blue Trust Inc. now owns 838 shares of the industrial products company's stock worth $82,000 after buying an additional 313 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Pentair in the 4th quarter worth about $205,000. Spire Wealth Management acquired a new position in Pentair in the 4th quarter worth about $64,000. Stratos Wealth Partners LTD. purchased a new stake in Pentair during the 4th quarter worth approximately $289,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Pentair by 22.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,090 shares of the industrial products company's stock worth $2,737,000 after buying an additional 5,051 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PNR shares. Royal Bank of Canada upped their price target on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Barclays upped their price target on Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Stifel Nicolaus reduced their price objective on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen raised Pentair from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised Pentair from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $90.00 to $113.00 in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $107.14.

Pentair Stock Performance

PNR traded down $0.12 during trading on Friday, hitting $99.59. The stock had a trading volume of 1,252,397 shares, compared to its average volume of 1,499,795. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market cap of $16.39 billion, a PE ratio of 26.63, a P/E/G ratio of 1.87 and a beta of 1.10. The company has a 50 day simple moving average of $90.66 and a 200-day simple moving average of $96.05. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results 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. The business had revenue of $1.01 billion for 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 previous year, the business earned $0.94 EPS. Analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

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

Pentair Company 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.