Intech Investment Management LLC Trims Stake in Pentair plc (NYSE:PNR)

Intech Investment Management LLC cut its position in Pentair plc (NYSE:PNR) by 29.3% in the third quarter, HoldingsChannel.com reports. The firm owned 29,944 shares of the industrial products company’s stock after selling 12,428 shares during the quarter. Intech Investment Management LLC’s holdings in Pentair were worth $2,928,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Pentair during the 2nd quarter valued at about $25,000. Crewe Advisors LLC lifted its position in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after buying an additional 267 shares in the last quarter. Family Firm Inc. bought a new position in Pentair during the second quarter valued at approximately $48,000. Blue Trust Inc. grew its holdings in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after buying an additional 327 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Pentair in the 1st quarter worth approximately $56,000. Institutional investors own 92.37% of the company’s stock.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Pentair Stock Performance

PNR stock opened at $106.93 on Friday. Pentair plc has a twelve month low of $62.63 and a twelve month high of $107.78. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.89 and a beta of 1.19. The business’s fifty day simple moving average is $99.38 and its two-hundred day simple moving average is $88.18. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

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

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.86%. Pentair’s payout ratio is currently 23.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Pentair in a report on Thursday. UBS Group boosted their target price on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a 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. Stifel Nicolaus boosted their price objective on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.13.

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.