Busey Bank Acquires 3,240 Shares of Pentair plc (NYSE:PNR)

Busey Bank increased its stake in Pentair plc (NYSE:PNR) by 2.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,569 shares of the industrial products company’s stock after buying an additional 3,240 shares during the period. Busey Bank’s holdings in Pentair were worth $16,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 294 shares during the last quarter. Blue Trust Inc. lifted its position in Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 327 shares in the last quarter. Eastern Bank boosted its stake in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 300 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Pentair in the 4th quarter worth $56,000. Institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PNR. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus dropped their price target on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Oppenheimer boosted their price target on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays upped their price target on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Six 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, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $111.07.

Insider Buying and Selling

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction 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. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Pentair Trading Down 1.1 %

NYSE PNR opened at $101.63 on Thursday. Pentair plc has a 12 month low of $71.40 and a 12 month high of $110.71. The company’s 50-day moving average price is $103.95 and its 200-day moving average price is $96.39. The stock has a market cap of $16.79 billion, a PE ratio of 25.41, a PEG ratio of 1.67 and a beta of 1.21. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a $0.25 dividend. This is a positive change from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. Pentair’s payout ratio is presently 23.00%.

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.