Pentair plc (NYSE:PNR) Shares Purchased by Prospector Partners LLC

Prospector Partners LLC boosted its position in shares of Pentair plc (NYSE:PNR) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,718 shares of the industrial products company’s stock after buying an additional 676 shares during the period. Pentair accounts for approximately 1.5% of Prospector Partners LLC’s portfolio, making the stock its 25th biggest holding. Prospector Partners LLC owned about 0.09% of Pentair worth $14,250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Pentair in the 2nd quarter valued at $25,000. Crewe Advisors LLC increased its stake in Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. purchased a new stake in shares of Pentair in the second quarter valued at about $48,000. Blue Trust Inc. boosted its stake in shares of Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares during the period. Finally, LRI Investments LLC acquired a new position in Pentair in the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

Pentair Stock Performance

Shares of PNR opened at $107.96 on Tuesday. Pentair plc has a 12-month low of $62.81 and a 12-month high of $109.31. The stock has a market cap of $17.84 billion, a P/E ratio of 26.99, a PEG ratio of 1.91 and a beta of 1.19. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $99.68 and a two-hundred day moving average of $88.39.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. Pentair’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, research analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio is presently 23.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on PNR shares. KeyCorp increased their price objective on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho lifted their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their price objective on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, TD Cowen raised their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.38.

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.