Sanctuary Advisors LLC Raises Holdings in Pentair plc (NYSE:PNR)

Sanctuary Advisors LLC raised its position in shares of Pentair plc (NYSE:PNR - Free Report) by 101.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,933 shares of the industrial products company's stock after purchasing an additional 6,024 shares during the quarter. Sanctuary Advisors LLC's holdings in Pentair were worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Raymond James & Associates grew its position in shares of Pentair by 4.6% during the second quarter. Raymond James & Associates now owns 70,833 shares of the industrial products company's stock worth $5,431,000 after purchasing an additional 3,135 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Pentair by 3.8% in the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company's stock worth $267,000 after buying an additional 129 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company's stock worth $2,808,000 after acquiring an additional 139 shares during the last quarter. Family Firm Inc. purchased a new position in Pentair during the second quarter valued at $48,000. Finally, Addison Capital Co increased its holdings in Pentair by 45.3% in the 2nd quarter. Addison Capital Co now owns 8,979 shares of the industrial products company's stock valued at $688,000 after acquiring an additional 2,798 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PNR shares. UBS Group raised 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. Citigroup boosted their price target on shares of Pentair from $113.00 to $126.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. TD Cowen upped their target price on shares of Pentair from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on Pentair in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $109.38.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction 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 approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Pentair Stock Up 1.0 %

Shares of NYSE:PNR traded up $0.97 on Friday, reaching $101.95. The company had a trading volume of 2,850,052 shares, compared to its average volume of 1,519,697. Pentair plc has a 52-week low of $68.08 and a 52-week high of $110.71. The firm's 50 day simple moving average is $103.92 and its 200-day simple moving average is $91.58. The firm has a market capitalization of $16.85 billion, a PE ratio of 25.49, a PEG ratio of 1.91 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

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, topping analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. As a group, analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.25 per share. This is an increase from Pentair's previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, January 24th. Pentair's payout ratio is presently 25.00%.

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.