State Treasurer State of Michigan lowered its holdings in Pentair PLC. (NYSE:PNR) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,102 shares of the industrial products company’s stock after selling 5,000 shares during the period. State Treasurer State of Michigan’s holdings in Pentair PLC. were worth $3,405,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PNR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Pentair PLC. by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,456 shares of the industrial products company’s stock valued at $829,000 after purchasing an additional 53 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Pentair PLC. by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock valued at $1,092,000 after purchasing an additional 54 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Pentair PLC. by 1.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,439 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 62 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in Pentair PLC. by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,319 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 92 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Pentair PLC. by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 100 shares in the last quarter. 85.70% of the stock is owned by institutional investors.

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In other news, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the completion of the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.90% of the stock is owned by company insiders.

A number of research firms recently weighed in on PNR. BMO Capital Markets raised their price target on shares of Pentair PLC. from $78.00 to $79.00 and gave the company a “market perform” rating in a report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and set a $76.00 price target (up from $75.00) on shares of Pentair PLC. in a report on Wednesday, October 25th. Seaport Global Securities reaffirmed a “buy” rating on shares of Pentair PLC. in a report on Wednesday, October 25th. Robert W. Baird raised their price target on shares of Pentair PLC. from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research raised shares of Pentair PLC. from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Pentair PLC. has a consensus rating of “Hold” and a consensus target price of $70.00.

Shares of Pentair PLC. (NYSE:PNR) opened at 70.10 on Tuesday. The company has a 50-day moving average of $68.52 and a 200 day moving average of $65.51. The company has a market capitalization of $12.72 billion, a P/E ratio of 20.64 and a beta of 1.41. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $71.65.

Pentair PLC. (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS. Analysts forecast that Pentair PLC. will post $3.53 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Friday, October 20th will be paid a dividend of $0.345 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $1.38 annualized dividend and a dividend yield of 1.97%. Pentair PLC.’s dividend payout ratio is currently 41.82%.

Pentair PLC. Company Profile

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

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Institutional Ownership by Quarter for Pentair PLC. (NYSE:PNR)

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