Affiance Financial LLC Purchases Shares of 2,351 Pentair plc (NYSE:PNR)

Affiance Financial LLC purchased a new stake in Pentair plc (NYSE:PNR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,351 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNR. Lindbrook Capital LLC increased its stake in shares of Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares during the period. Operose Advisors LLC bought a new stake in shares of Pentair during the 3rd quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its holdings in Pentair by 24.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 173 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Pentair in the 4th quarter valued at about $69,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PNR. Oppenheimer boosted their target price on shares of Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Northcoast Research upgraded shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, April 15th. Mizuho upped their price objective on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. BNP Paribas started coverage on shares of Pentair in a research report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price objective for the company. Finally, KeyCorp upped their price target on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.67.

Pentair Stock Up 0.4 %

NYSE PNR traded up $0.28 on Thursday, hitting $75.36. 76,738 shares of the company were exchanged, compared to its average volume of 1,545,849. The company has a market cap of $12.51 billion, a PE ratio of 19.97, a PEG ratio of 1.28 and a beta of 1.22. Pentair plc has a 12 month low of $57.18 and a 12 month high of $85.84. The stock has a fifty day moving average of $80.32 and a 200-day moving average of $77.46. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. Pentair’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, analysts forecast that Pentair plc will post 4.24 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is 24.47%.

Insider Buying and Selling at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the transaction, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

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.