Castleark Management LLC decreased its position in shares of Pentair plc (NYSE:PNR - Free Report) by 43.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,500 shares of the industrial products company's stock after selling 41,690 shares during the quarter. Castleark Management LLC's holdings in Pentair were worth $5,232,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of PNR. Cetera Advisors LLC lifted its stake in Pentair by 64.3% in the first quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company's stock valued at $593,000 after buying an additional 2,718 shares in the last quarter. CWM LLC lifted its stake in Pentair by 88.2% in the second quarter. CWM LLC now owns 5,414 shares of the industrial products company's stock valued at $415,000 after buying an additional 2,538 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Pentair by 5.5% in the second quarter. QRG Capital Management Inc. now owns 9,131 shares of the industrial products company's stock valued at $700,000 after buying an additional 477 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Pentair in the second quarter valued at approximately $25,000. Finally, Czech National Bank lifted its stake in Pentair by 8.7% in the second quarter. Czech National Bank now owns 31,637 shares of the industrial products company's stock valued at $2,426,000 after buying an additional 2,543 shares in the last quarter. 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 business's stock in a transaction dated Friday, November 1st. The shares were 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 owns 19,232 shares of the company's stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.
Pentair Stock Performance
Shares of NYSE:PNR traded up $0.05 on Friday, hitting $108.11. The company had a trading volume of 678,743 shares, compared to its average volume of 1,090,377. Pentair plc has a 1-year low of $66.18 and a 1-year high of $110.71. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.94 and a beta of 1.20. The stock has a 50 day moving average price of $102.04 and a 200 day moving average price of $89.92. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.
Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $988.53 million. During the same period in the previous year, the company earned $0.94 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that Pentair plc will post 4.28 EPS for the current year.
Pentair Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.23 dividend. 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 presently 23.00%.
Analysts Set New Price Targets
A number of brokerages have weighed in on PNR. Mizuho lifted their price target on shares of Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. KeyCorp lifted their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Stifel Nicolaus lifted their price objective on shares of Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 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 issued a buy rating to the company. According to data from MarketBeat, Pentair presently has a consensus rating of "Moderate Buy" and an average target price of $107.13.
Check Out Our Latest Report on PNR
Pentair Company Profile
(
Free Report)
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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