Inspire Advisors LLC boosted its position in Pentair plc (NYSE:PNR – Free Report) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,214 shares of the industrial products company’s stock after purchasing an additional 574 shares during the quarter. Inspire Advisors LLC’s holdings in Pentair were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Pentair by 0.5% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,965 shares of the industrial products company’s stock worth $2,050,000 after purchasing an additional 108 shares during the period. Horizon Investments LLC grew its position in Pentair by 4.8% during the first quarter. Horizon Investments LLC now owns 2,372 shares of the industrial products company’s stock worth $207,000 after buying an additional 109 shares in the last quarter. Brooklyn Investment Group grew its position in Pentair by 14.8% during the first quarter. Brooklyn Investment Group now owns 847 shares of the industrial products company’s stock worth $74,000 after buying an additional 109 shares in the last quarter. Leavell Investment Management Inc. increased its stake in Pentair by 2.8% in the 2nd quarter. Leavell Investment Management Inc. now owns 4,088 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 112 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Pentair by 3.0% in the 2nd quarter. Kingsview Wealth Management LLC now owns 3,911 shares of the industrial products company’s stock valued at $402,000 after acquiring an additional 113 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.
Pentair Price Performance
Shares of Pentair stock opened at $102.07 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 1.46. Pentair plc has a 52-week low of $74.25 and a 52-week high of $113.95. The company has a fifty day moving average of $109.03 and a 200-day moving average of $104.76. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14.
Pentair Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, October 24th. Pentair’s payout ratio is 25.38%.
Insiders Place Their Bets
In related news, CFO Robert P. Fishman sold 7,786 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $105.42, for a total transaction of $820,800.12. Following the completion of the sale, the chief financial officer directly owned 63,164 shares in the company, valued at $6,658,748.88. This represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.45% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Robert W. Baird set a $130.00 price objective on Pentair in a report on Wednesday, October 22nd. Citigroup lifted their target price on shares of Pentair from $126.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. TD Cowen lowered shares of Pentair from a “buy” rating to a “hold” rating and decreased their price target for the stock from $115.00 to $110.00 in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of Pentair from $116.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Pentair in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.93.
View Our Latest Stock Report on PNR
About Pentair
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.
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