Cerity Partners LLC Acquires 18,196 Shares of Pentair plc (NYSE:PNR)

Cerity Partners LLC boosted its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 130.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,160 shares of the industrial products company's stock after acquiring an additional 18,196 shares during the quarter. Cerity Partners LLC's holdings in Pentair were worth $3,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair during the 2nd quarter worth about $25,000. Crewe Advisors LLC raised its stake in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 267 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Pentair in the 2nd quarter worth approximately $48,000. Blue Trust Inc. grew its position in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock worth $51,000 after acquiring an additional 327 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Pentair in the 2nd quarter valued at $67,000. 92.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PNR shares. UBS Group lifted their price target on Pentair from $100.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Oppenheimer boosted their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. KeyCorp raised their price target on shares of Pentair from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded Pentair from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pentair has an average rating of "Moderate Buy" and a consensus target price of $106.38.

Insiders Place Their Bets

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

Pentair Trading Up 0.0 %

PNR traded up $0.03 during mid-day trading on Friday, hitting $108.99. The stock had a trading volume of 636,089 shares, compared to its average volume of 1,260,837. The stock's fifty day simple moving average is $100.85 and its 200-day simple moving average is $89.07. The firm has a market capitalization of $18.01 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. Pentair plc has a 1-year low of $63.38 and a 1-year high of $110.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $988.53 million. During the same period in the previous year, the company posted $0.94 earnings per share. The company's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts forecast that Pentair plc will post 4.28 EPS 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 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 yield of 0.84%. Pentair's payout ratio is 23.00%.

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.