PDT Partners LLC Sells 4,444 Shares of Pentair plc (NYSE:PNR)

PDT Partners LLC lowered its position in Pentair plc (NYSE:PNR) by 10.9% in the third quarter, Holdings Channel.com reports. The fund owned 36,349 shares of the industrial products company’s stock after selling 4,444 shares during the period. PDT Partners LLC’s holdings in Pentair were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on PNR. JPMorgan Chase & Co. boosted their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Mizuho boosted their price target 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 note on Wednesday, October 23rd. UBS Group lifted their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their target price on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Pentair Trading Up 0.0 %

PNR opened at $108.99 on Friday. The firm has a 50 day simple moving average of $100.57 and a 200 day simple moving average of $88.85. Pentair plc has a fifty-two week low of $63.38 and a fifty-two week high of $110.71. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

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

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given 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 payout ratio is currently 23.00%.

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.