Cinctive Capital Management LP Sells 11,456 Shares of Pentair plc (NYSE:PNR)

Cinctive Capital Management LP reduced its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 56.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,712 shares of the industrial products company's stock after selling 11,456 shares during the quarter. Cinctive Capital Management LP's holdings in Pentair were worth $852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PNR. Massachusetts Financial Services Co. MA grew its holdings in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company's stock worth $159,655,000 after acquiring an additional 996,325 shares during the period. Interval Partners LP grew its holdings in Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company's stock worth $73,305,000 after acquiring an additional 710,703 shares during the period. FMR LLC increased its stake 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 in the last quarter. AQR Capital Management LLC increased its stake in Pentair by 44.7% in the 2nd quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company's stock worth $51,589,000 after purchasing an additional 207,830 shares in the last quarter. Finally, Swedbank AB increased its stake in Pentair by 17.9% in the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company's stock worth $132,141,000 after purchasing an additional 205,000 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Price Performance

Pentair stock traded down $0.07 on Wednesday, reaching $108.76. The company's stock had a trading volume of 1,101,341 shares, compared to its average volume of 1,533,185. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.94 and a beta of 1.20. The business's fifty day moving average price is $101.36 and its 200 day moving average price is $89.46. Pentair plc has a twelve month low of $65.31 and a twelve month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating 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 business 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 firm posted $0.94 earnings per share. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared 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. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair's dividend payout ratio (DPR) is presently 23.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNR. Royal Bank of Canada reissued an "outperform" rating and issued a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Mizuho raised their price objective on Pentair from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. KeyCorp raised their price objective on Pentair from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised their price objective on Pentair from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Pentair has a consensus rating of "Moderate Buy" and a consensus target price of $106.38.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.28% of the stock is currently owned by insiders.

Pentair 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.