Pentair plc (NYSE:PNR) Shares Sold by Taika Capital LP

Taika Capital LP lowered its position in Pentair plc (NYSE:PNR - Free Report) by 55.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,121 shares of the industrial products company's stock after selling 25,969 shares during the quarter. Pentair makes up about 1.6% of Taika Capital LP's portfolio, making the stock its 24th biggest position. Taika Capital LP's holdings in Pentair were worth $2,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Pentair during the 2nd quarter valued at $25,000. Crewe Advisors LLC boosted its position in shares of 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 purchasing an additional 267 shares in the last quarter. Quarry LP boosted its position in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Pentair in the 2nd quarter worth $48,000. Finally, Blue Trust Inc. boosted its position in shares of Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock worth $51,000 after purchasing an additional 327 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PNR shares. Oppenheimer raised their target price on Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. KeyCorp lifted their price objective on Pentair from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. StockNews.com downgraded Pentair from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Pentair from $93.00 to $103.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.13.

Pentair Price Performance

Pentair stock traded down $0.28 during trading hours on Friday, hitting $107.78. The stock had a trading volume of 280,902 shares, compared to its average volume of 1,525,324. 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 stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.94 and a beta of 1.20. Pentair plc has a 1-year low of $66.18 and a 1-year high of $110.71. The stock's fifty day moving average is $101.81 and its two-hundred day moving average is $89.72.

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 for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. Pentair's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, analysts predict that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, October 18th. Pentair's payout ratio is 23.00%.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm's 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 transaction, the executive vice president now directly owns 19,232 shares in the company, valued at $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 available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.