Kentucky Retirement Systems Insurance Trust Fund Has $479,000 Stock Holdings in Pentair plc (NYSE:PNR)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Pentair plc (NYSE:PNR) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,900 shares of the industrial products company’s stock after selling 455 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Pentair were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after acquiring an additional 1,228,635 shares during the last quarter. Swedbank AB bought a new position in shares of Pentair in the first quarter worth about $97,083,000. Massachusetts Financial Services Co. MA lifted its position in shares of Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after purchasing an additional 996,325 shares during the last quarter. Interval Partners LP lifted its position in shares of Pentair by 289.6% during the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Pentair by 44.7% during the 2nd quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock valued at $51,589,000 after purchasing an additional 207,830 shares during the period. 92.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PNR has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their price target on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Mizuho upped their price objective 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. Finally, UBS Group lifted their target price on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Pentair Stock Performance

Pentair stock opened at $105.87 on Tuesday. The firm has a market capitalization of $17.49 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.89 and a beta of 1.19. The stock has a fifty day moving average price of $98.09 and a two-hundred day moving average price of $87.55. Pentair plc has a 52-week low of $62.04 and a 52-week high of $107.78. 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 announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) 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 analysts’ expectations 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 company posted $0.94 EPS. As a group, analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is currently 23.00%.

Insider Buying and Selling

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 stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.