Kentucky Retirement Systems Sells 982 Shares of Pentair plc (NYSE:PNR)

Kentucky Retirement Systems cut its stake in shares of Pentair plc (NYSE:PNR) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,529 shares of the industrial products company’s stock after selling 982 shares during the quarter. Kentucky Retirement Systems’ holdings in Pentair were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Avantax Advisory Services Inc. bought a new stake in shares of Pentair during the 1st quarter worth $203,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Pentair by 64.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,262 shares of the industrial products company’s stock valued at $620,000 after buying an additional 2,833 shares in the last quarter. Bessemer Group Inc. lifted its position in Pentair by 2,646.2% in the 1st quarter. Bessemer Group Inc. now owns 29,961 shares of the industrial products company’s stock worth $2,559,000 after buying an additional 28,870 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Pentair by 6.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,568 shares of the industrial products company’s stock worth $3,637,000 after buying an additional 2,568 shares in the last quarter. Finally, MQS Management LLC bought a new position in Pentair during the first quarter valued at approximately $232,000. 92.37% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction 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.

Pentair Trading Down 0.0 %

NYSE PNR opened at $105.87 on Tuesday. The firm has a market capitalization of $17.49 billion, a PE ratio of 26.47, a P/E/G ratio of 1.89 and a beta of 1.19. The stock’s 50 day moving average is $98.09 and its 200 day moving average is $87.55. Pentair plc has a twelve month low of $62.04 and a twelve month high of $107.78. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for 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 company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. Research analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

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

Wall Street Analyst Weigh In

PNR has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho boosted their target price on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.13.

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.