Two Sigma Advisers LP Sells 52,700 Shares of Pentair plc (NYSE:PNR)

Two Sigma Advisers LP lowered its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 19.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,800 shares of the industrial products company's stock after selling 52,700 shares during the period. Two Sigma Advisers LP owned approximately 0.13% of Pentair worth $21,201,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PNR. Allspring Global Investments Holdings LLC raised its stake in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company's stock valued at $610,000 after acquiring an additional 121 shares during the period. Wedmont Private Capital raised its stake in shares of Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 128 shares during the period. Fifth Third Bancorp raised its stake in shares of Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company's stock valued at $267,000 after acquiring an additional 129 shares during the period. Inspire Advisors LLC raised its stake in shares of Pentair by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company's stock valued at $794,000 after acquiring an additional 130 shares during the period. Finally, Quarry LP raised its stake in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 92.37% of the company's stock.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business'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 transaction of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company's stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen raised their target price 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. UBS Group lifted their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Pentair from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Finally, KeyCorp lifted their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.13.

Pentair Stock Performance

Shares of NYSE PNR traded up $0.05 during midday trading on Friday, hitting $108.11. The company's stock had a trading volume of 678,743 shares, compared to its average volume of 1,090,377. Pentair plc has a 1-year low of $66.18 and a 1-year high of $110.71. The firm's fifty day moving average price is $102.04 and its 200-day moving average price is $89.92. 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 firm has a market cap of $17.86 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.94 and a beta of 1.20.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. On average, sell-side analysts forecast that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued 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 currently 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.