Commerce Bank Sells 41,790 Shares of Pentair plc (NYSE:PNR)

Commerce Bank lessened its stake in Pentair plc (NYSE:PNR - Free Report) by 80.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,465 shares of the industrial products company's stock after selling 41,790 shares during the quarter. Commerce Bank's holdings in Pentair were worth $1,023,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PNR. Opal Wealth Advisors LLC bought a new stake in shares of Pentair in the second quarter worth about $25,000. Crewe Advisors LLC increased its holdings 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 worth $26,000 after acquiring an additional 267 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock worth $51,000 after acquiring an additional 327 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Pentair in the second quarter worth about $48,000. Finally, LRI Investments LLC bought a new stake in shares of Pentair in the first quarter worth about $56,000. Institutional investors own 92.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PNR. Oppenheimer increased their price target on Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their price target on Pentair from $93.00 to $103.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on Pentair from $101.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Barclays upped their price objective on Pentair from $105.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, KeyCorp upped 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. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Pentair currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.13.

Pentair Stock Up 1.0 %

NYSE PNR traded up $1.03 during trading hours on Monday, hitting $107.96. 2,533,675 shares of the company traded hands, compared to its average volume of 1,546,534. The business's 50-day moving average is $99.68 and its 200-day moving average is $88.39. Pentair plc has a twelve month low of $62.81 and a twelve month high of $109.31. 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 stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.91 and a beta of 1.19.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company had revenue of $993.40 million during the quarter, compared to analysts' expectations of $988.53 million. During the same period last year, the firm posted $0.94 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed 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 of this dividend 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%.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the 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 transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.28% of the company's stock.

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.