Teacher Retirement System of Texas Reduces Stake in Pentair plc $PNR

Teacher Retirement System of Texas cut its stake in shares of Pentair plc (NYSE:PNR) by 85.4% during the third quarter, HoldingsChannel reports. The firm owned 21,559 shares of the industrial products company’s stock after selling 125,757 shares during the quarter. Teacher Retirement System of Texas’ holdings in Pentair were worth $2,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNR. Outlook Wealth Advisors LLC bought a new position in shares of Pentair during the 3rd quarter valued at approximately $286,000. Bailard Inc. increased its position in Pentair by 32.0% during the third quarter. Bailard Inc. now owns 11,558 shares of the industrial products company’s stock valued at $1,280,000 after acquiring an additional 2,801 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Pentair by 1.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 180,666 shares of the industrial products company’s stock valued at $20,011,000 after acquiring an additional 2,285 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Pentair by 31.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,253 shares of the industrial products company’s stock worth $463,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Sage Mountain Advisors LLC purchased a new position in shares of Pentair during the 3rd quarter worth about $276,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity

In related news, CFO Robert P. Fishman sold 7,786 shares of Pentair stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $105.42, for a total transaction of $820,800.12. Following the transaction, the chief financial officer directly owned 63,164 shares of the company’s stock, valued at $6,658,748.88. This trade represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director T Michael Glenn sold 6,558 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $104.33, for a total value of $684,196.14. Following the sale, the director owned 31,192 shares of the company’s stock, valued at approximately $3,254,261.36. This represents a 17.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Pentair from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Barclays downgraded Pentair from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $127.00 to $115.00 in a report on Thursday, December 4th. JPMorgan Chase & Co. dropped their price objective on Pentair from $132.00 to $124.00 and set an “overweight” rating for the company in a report on Friday, January 16th. UBS Group upped their price objective on Pentair from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, BNP Paribas Exane downgraded Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 target price for the company. in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Pentair Price Performance

PNR opened at $105.82 on Friday. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.85 and a beta of 1.22. The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. Pentair plc has a 12-month low of $74.25 and a 12-month high of $113.95. The business’s fifty day simple moving average is $105.07 and its 200-day simple moving average is $106.58.

Pentair Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be given a dividend of $0.27 per share. This is a positive change from Pentair’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.0%. Pentair’s payout ratio is 27.41%.

Pentair Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.