Bank of Montreal Can Sells 68,172 Shares of Pentair plc (NYSE:PNR)

Bank of Montreal Can reduced its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 31.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,357 shares of the industrial products company's stock after selling 68,172 shares during the quarter. Bank of Montreal Can owned approximately 0.09% of Pentair worth $14,389,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNR. Opal Wealth Advisors LLC bought a new position in Pentair in the second quarter worth about $25,000. Crewe Advisors LLC lifted its stake in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. lifted its stake in shares of Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 327 shares during the period. Family Firm Inc. purchased a new position in Pentair during the second quarter valued at $48,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Pentair by 59.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 705 shares of the industrial products company's stock valued at $69,000 after buying an additional 262 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Performance

PNR stock traded up $0.03 on Friday, hitting $108.99. The company had a trading volume of 636,089 shares, compared to its average volume of 1,260,837. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 1.94 and a beta of 1.19. 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 simple moving average is $100.85 and its 200 day simple moving average is $89.07. Pentair plc has a 12-month low of $63.38 and a 12-month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. Pentair's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, equities research analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.84%. Pentair's dividend payout ratio (DPR) is 23.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Pentair from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Mizuho lifted their target price on shares of Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. TD Cowen raised their price objective on Pentair from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their price objective on Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, Barclays increased their target price on Pentair from $105.00 to $108.00 and gave the stock 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 issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.38.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company's stock in a transaction 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 $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.10% of the company's stock.

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.