Independent Advisor Alliance Boosts Stock Holdings in Pentair plc (NYSE:PNR)

Independent Advisor Alliance raised its holdings in shares of Pentair plc (NYSE:PNR) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,525 shares of the industrial products company’s stock after acquiring an additional 170 shares during the period. Independent Advisor Alliance’s holdings in Pentair were worth $736,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd boosted its holdings in shares of Pentair by 81,975.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,283 shares of the industrial products company’s stock worth $321,000 after purchasing an additional 3,279 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Pentair by 1.5% during the third quarter. Fisher Asset Management LLC now owns 140,707 shares of the industrial products company’s stock worth $13,760,000 after purchasing an additional 2,072 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Pentair by 30.7% during the third quarter. Daiwa Securities Group Inc. now owns 59,880 shares of the industrial products company’s stock worth $5,856,000 after purchasing an additional 14,057 shares during the period. Marco Investment Management LLC purchased a new stake in shares of Pentair during the third quarter worth about $205,000. Finally, Swedbank AB boosted its holdings in shares of Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after purchasing an additional 205,000 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the 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 sale, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Pentair Price Performance

Shares of NYSE PNR opened at $108.96 on Thursday. Pentair plc has a fifty-two week low of $63.09 and a fifty-two week high of $110.71. The company has a 50 day simple moving average of $99.99 and a two-hundred day simple moving average of $88.57. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last announced its earnings results 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. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same quarter last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PNR. Barclays increased their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen increased their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Mizuho increased their price target on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus 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.