Zurcher Kantonalbank Zurich Cantonalbank Sells 41,250 Shares of Pentair plc (NYSE:PNR)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Pentair plc (NYSE:PNR) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 486,484 shares of the industrial products company’s stock after selling 41,250 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.29% of Pentair worth $47,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 121 shares during the period. Wedmont Private Capital raised its position in Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 128 shares in the last quarter. Fifth Third Bancorp lifted its stake in Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of Pentair by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 139 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Performance

Shares of Pentair stock opened at $108.96 on Friday. The company has a market cap of $18.00 billion, a P/E ratio of 27.24, a PEG ratio of 1.94 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 business has a 50-day moving average price of $100.30 and a two-hundred day moving average price of $88.71. Pentair plc has a 1-year low of $63.09 and a 1-year high of $110.71.

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

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. Pentair’s dividend payout ratio is currently 23.00%.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PNR has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. Wolfe Research began coverage on shares of Pentair in a report on Tuesday. They set an “outperform” rating and a $125.00 price target on the stock. KeyCorp increased their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, TD Cowen increased their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.38.

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.