Algert Global LLC Makes New Investment in Pentair plc (NYSE:PNR)

Algert Global LLC bought a new stake in shares of Pentair plc (NYSE:PNR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,900 shares of the industrial products company's stock, valued at approximately $479,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNR. Cetera Investment Advisers raised its stake in shares of Pentair by 222.8% in the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company's stock worth $4,328,000 after buying an additional 34,959 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Pentair by 64.3% in the 1st quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company's stock valued at $593,000 after acquiring an additional 2,718 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Pentair by 19.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,046 shares of the industrial products company's stock valued at $83,000 after acquiring an additional 170 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Pentair by 187.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,765 shares of the industrial products company's stock worth $212,000 after purchasing an additional 1,804 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Pentair in the 2nd quarter worth approximately $364,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Up 0.0 %

Shares of NYSE:PNR traded up $0.03 during trading on Friday, reaching $108.99. 636,089 shares of the company traded hands, compared to its average volume of 1,260,837. The firm has a fifty day simple moving average of $100.85 and a 200 day simple moving average of $89.07. 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 plc has a 1-year low of $63.38 and a 1-year high of $110.71. The firm has a market cap of $18.01 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm had revenue of $993.40 million during the quarter, compared to analysts' expectations of $988.53 million. During the same quarter last year, the firm earned $0.94 earnings per share. The business's revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair's payout ratio is presently 23.00%.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business'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 value of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNR. The Goldman Sachs Group lifted their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. StockNews.com cut Pentair from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Barclays upped their target price on Pentair from $105.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on Pentair from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, KeyCorp upped their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $106.38.

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.