Insider Selling: Pentair PLC (NYSE:PNR) Director Sells 6,116 Shares of Stock

Pentair PLC (NYSE:PNR) Director T Michael Glenn sold 6,116 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $44.23, for a total transaction of $270,510.68. Following the completion of the transaction, the director now directly owns 24,702 shares in the company, valued at approximately $1,092,569.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of NYSE PNR traded up $0.34 during midday trading on Wednesday, reaching $43.96. 1,031,094 shares of the company’s stock were exchanged, compared to its average volume of 1,455,441. The stock has a market capitalization of $7.45 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.60 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.44. Pentair PLC has a 52-week low of $34.50 and a 52-week high of $45.70. The business’s fifty day moving average price is $42.18 and its two-hundred day moving average price is $38.12.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $713.60 million during the quarter, compared to the consensus estimate of $719.07 million. Pentair had a return on equity of 21.35% and a net margin of 11.92%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. Analysts predict that Pentair PLC will post 2.35 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on PNR. Jefferies Financial Group began coverage on shares of Pentair in a research report on Friday, September 20th. They set a “hold” rating for the company. Zacks Investment Research raised Pentair from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a research report on Friday, October 25th. Seaport Global Securities reissued a “buy” rating on shares of Pentair in a research report on Tuesday, October 15th. Finally, Morgan Stanley set a $43.00 price objective on shares of Pentair and gave the company a “hold” rating in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Pentair has a consensus rating of “Hold” and an average target price of $42.75.

A number of large investors have recently added to or reduced their stakes in PNR. Marshall Wace North America L.P. grew its position in shares of Pentair by 3,150.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 3,139,107 shares of the industrial products company’s stock valued at $116,775,000 after buying an additional 3,042,541 shares during the last quarter. Parnassus Investments CA boosted its stake in Pentair by 33.5% in the third quarter. Parnassus Investments CA now owns 10,970,793 shares of the industrial products company’s stock valued at $414,696,000 after acquiring an additional 2,754,115 shares during the period. BlackRock Inc. boosted its stake in Pentair by 19.2% in the second quarter. BlackRock Inc. now owns 16,039,343 shares of the industrial products company’s stock valued at $596,665,000 after acquiring an additional 2,582,896 shares during the period. Impax Asset Management Group plc boosted its stake in Pentair by 39.7% in the second quarter. Impax Asset Management Group plc now owns 6,964,821 shares of the industrial products company’s stock valued at $259,091,000 after acquiring an additional 1,979,216 shares during the period. Finally, Balyasny Asset Management LLC grew its holdings in shares of Pentair by 3,979.8% during the second quarter. Balyasny Asset Management LLC now owns 849,412 shares of the industrial products company’s stock valued at $31,598,000 after purchasing an additional 828,592 shares during the last quarter. 84.60% of the stock is currently owned by institutional investors.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.

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