Pentair plc (NYSE:PNR) Shares Sold by American National Bank

American National Bank cut its holdings in shares of Pentair plc (NYSE:PNR) by 22.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,154 shares of the industrial products company’s stock after selling 3,290 shares during the quarter. American National Bank’s holdings in Pentair were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Czech National Bank grew its holdings in shares of Pentair by 0.5% during the 1st quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock worth $2,486,000 after purchasing an additional 143 shares during the period. Perpetual Ltd boosted its holdings in Pentair by 9.6% during the 1st quarter. Perpetual Ltd now owns 135,197 shares of the industrial products company’s stock valued at $11,551,000 after acquiring an additional 11,807 shares during the period. Mather Group LLC. purchased a new position in Pentair during the 1st quarter valued at about $198,000. Symmetry Partners LLC purchased a new position in Pentair during the 1st quarter valued at about $398,000. Finally, Nomura Holdings Inc. boosted its holdings in Pentair by 354.4% during the 4th quarter. Nomura Holdings Inc. now owns 19,777 shares of the industrial products company’s stock valued at $1,438,000 after acquiring an additional 15,425 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares in the company, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Pentair Price Performance

Pentair stock traded up $0.15 during trading hours on Friday, hitting $79.47. The stock had a trading volume of 1,916,516 shares, compared to its average volume of 1,529,610. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.37 and a beta of 1.22. Pentair plc has a 1-year low of $57.18 and a 1-year high of $85.84. The stock’s fifty day moving average is $80.56 and its two-hundred day moving average is $77.09.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $0.91 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. As a group, analysts predict that Pentair plc will post 4.24 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 2nd. Stockholders of record on Friday, July 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s dividend payout ratio (DPR) is 24.47%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price objective on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Citigroup lifted their price objective on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Mizuho lifted their price objective on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Oppenheimer raised their target price on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Barclays raised their target price on Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

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.