Glenmede Trust Co. NA Buys Shares of 6,809 Pentair plc (NYSE:PNR)

Glenmede Trust Co. NA acquired a new position in Pentair plc (NYSE:PNR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,809 shares of the industrial products company's stock, valued at approximately $666,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNR. Harbour Investments Inc. lifted its stake in Pentair by 10.7% in the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company's stock worth $644,000 after purchasing an additional 636 shares in the last quarter. Cetera Investment Advisers boosted its stake in Pentair by 222.8% during the first 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 during the period. Swedbank AB grew its holdings in Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company's stock valued at $87,885,000 after purchasing an additional 10,000 shares during the last quarter. ORG Partners LLC bought a new position in Pentair during the 2nd quarter valued at about $631,000. Finally, FMR LLC raised its position in Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company's stock worth $557,860,000 after purchasing an additional 258,134 shares during the period. Hedge funds and other institutional investors own 92.37% of the company's stock.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company'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 transaction of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares of the company's stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.28% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PNR. The Goldman Sachs Group upped their target price on Pentair from $93.00 to $103.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Barclays raised their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price objective for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their price target on Pentair from $106.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.38.

Pentair Stock Performance

Shares of NYSE:PNR traded down $0.57 on Wednesday, hitting $108.26. 459,577 shares of the company were exchanged, compared to its average volume of 1,530,339. Pentair plc has a 1-year low of $65.31 and a 1-year high of $110.71. The firm has a market capitalization of $17.89 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average price is $101.36 and its 200 day moving average price is $89.46.

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 for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.85%. Pentair's payout ratio is 23.00%.

Pentair Company 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.