OneAscent Financial Services LLC Sells 181 Shares of Pentair plc (NYSE:PNR)

OneAscent Financial Services LLC decreased its holdings in Pentair plc (NYSE:PNR) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,642 shares of the industrial products company’s stock after selling 181 shares during the period. OneAscent Financial Services LLC’s holdings in Pentair were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its holdings in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares during the last quarter. Quent Capital LLC lifted its stake in Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Pentair by 24.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock valued at $64,000 after buying an additional 173 shares during the period. GAMMA Investing LLC bought a new position in shares of Pentair during the fourth quarter valued at approximately $69,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Pentair by 88.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,015 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of NYSE:PNR traded up $0.62 on Friday, reaching $76.67. The company’s stock had a trading volume of 2,499,510 shares, compared to its average volume of 1,647,079. Pentair plc has a 52-week low of $57.18 and a 52-week high of $85.84. The stock’s 50-day moving average is $80.24 and its two-hundred day moving average is $77.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The stock has a market capitalization of $12.73 billion, a P/E ratio of 20.39, a PEG ratio of 1.31 and a beta of 1.22.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts forecast that Pentair plc will post 4.22 EPS for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Insider Transactions at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their price target on Pentair from $103.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday. Oppenheimer raised their price objective on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. BNP Paribas initiated coverage on Pentair in a report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price for the company. Finally, KeyCorp raised their price target on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.71.

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.