Edgestream Partners L.P. Buys Shares of 36,051 Pentair plc (NYSE:PNR)

Edgestream Partners L.P. purchased a new stake in Pentair plc (NYSE:PNR - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund purchased 36,051 shares of the industrial products company's stock, valued at approximately $3,525,000.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNR. Barclays raised their price target on Pentair from $105.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Pentair from $93.00 to $103.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Pentair from $106.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. TD Cowen raised their price target on shares of Pentair from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded Pentair from a "buy" rating to a "hold" rating in a research report 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. Based on data from MarketBeat, Pentair has a consensus rating of "Moderate Buy" and a consensus target price of $106.38.

Pentair Price Performance

Shares of NYSE:PNR traded down $0.06 during trading hours on Monday, hitting $108.93. 1,304,848 shares of the company's stock traded hands, compared to its average volume of 1,537,767. The company's fifty day simple moving average is $100.85 and its two-hundred day simple moving average is $89.10. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 52 week low of $65.31 and a 52 week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $988.53 million. During the same quarter in the previous year, the business posted $0.94 earnings per share. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 0.84%. Pentair's dividend payout ratio (DPR) is 23.00%.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm's stock in a transaction that occurred 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 owns 19,232 shares of the company's stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company 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.