Eventide Asset Management LLC Lowers Stock Holdings in Pentair plc (NYSE:PNR)

Eventide Asset Management LLC trimmed its position in Pentair plc (NYSE:PNR - Free Report) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,538 shares of the industrial products company's stock after selling 50,581 shares during the quarter. Eventide Asset Management LLC owned approximately 0.16% of Pentair worth $26,163,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Pentair in the 2nd quarter valued at about $25,000. Crewe Advisors LLC grew its stake in Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company's stock worth $26,000 after buying an additional 267 shares in the last quarter. Family Firm Inc. bought a new position in shares of Pentair in the 2nd quarter worth $48,000. Blue Trust Inc. raised its position in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock valued at $51,000 after buying an additional 327 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Pentair during the 1st quarter worth $58,000. 92.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair 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 sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on PNR shares. TD Cowen increased their target price on Pentair from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on Pentair in a research report on Tuesday. They set an "outperform" rating and a $125.00 price objective on the stock. StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Mizuho lifted their price target on shares of Pentair from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus upped their price objective on shares of Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.38.

Pentair Trading Up 0.0 %

NYSE:PNR traded up $0.03 during mid-day trading on Friday, reaching $108.99. 636,089 shares of the company's stock traded hands, compared to its average volume of 1,538,775. Pentair plc has a 12-month low of $63.38 and a 12-month 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. The company has a 50 day moving average price of $100.85 and a 200-day moving average price of $89.03. The firm has a market capitalization of $18.01 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.94 and a beta of 1.19.

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 (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analysts' expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business's revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. On average, sell-side analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair's payout ratio is 23.00%.

Pentair Company 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.