Zurcher Kantonalbank Zurich Cantonalbank Sells 41,250 Shares of Pentair plc (NYSE:PNR)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 486,484 shares of the industrial products company's stock after selling 41,250 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.29% of Pentair worth $47,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA bought a new stake in shares of Pentair during the third quarter worth approximately $666,000. Townsquare Capital LLC grew its holdings in Pentair by 8.2% in the 3rd quarter. Townsquare Capital LLC now owns 32,813 shares of the industrial products company's stock valued at $3,209,000 after buying an additional 2,484 shares in the last quarter. Transamerica Financial Advisors Inc. increased its position in Pentair by 2,415.3% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,484 shares of the industrial products company's stock worth $146,000 after buying an additional 1,425 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Pentair by 81.4% in the third quarter. BNP Paribas Financial Markets now owns 305,294 shares of the industrial products company's stock valued at $29,855,000 after acquiring an additional 136,971 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Pentair in the third quarter valued at about $71,000. 92.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of analyst reports. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday. They set an "outperform" rating and a $125.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Pentair from $106.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Mizuho upped their target price on Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Oppenheimer raised their price target on Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, TD Cowen increased their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $106.38.

Pentair Price Performance

PNR stock traded up $0.03 during midday trading on Friday, reaching $108.99. 632,974 shares of the stock were exchanged, compared to its average volume of 1,538,775. Pentair plc has a 52 week low of $63.38 and a 52 week high of $110.71. The company has a fifty day moving average price of $100.57 and a 200 day moving average price of $88.85. 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 $18.01 billion, a PE ratio of 27.35, a P/E/G ratio of 1.94 and a beta of 1.19.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same quarter last year, the business earned $0.94 EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts expect that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair's payout ratio is presently 23.00%.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company's stock in a transaction 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 sale, the executive vice president now owns 19,232 shares of the company's stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.