Azzad Asset Management Inc. ADV Sells 485 Shares of Pentair plc (NYSE:PNR)

Azzad Asset Management Inc. ADV decreased its stake in Pentair plc (NYSE:PNR) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,650 shares of the industrial products company’s stock after selling 485 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Pentair were worth $3,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Pentair by 191.8% in the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after buying an additional 46,290 shares during the period. UBS Group AG grew its stake in Pentair by 5.2% during the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock worth $34,847,000 after purchasing an additional 23,494 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Pentair during the fourth quarter worth approximately $2,908,000. Point72 Europe London LLP acquired a new stake in Pentair during the fourth quarter worth approximately $921,000. Finally, Kodai Capital Management LP acquired a new stake in Pentair during the fourth quarter worth approximately $173,280,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Buying and Selling

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.28% of the stock is owned by company insiders.

Pentair Stock Performance

NYSE:PNR traded up $0.26 during trading hours on Wednesday, reaching $75.00. The stock had a trading volume of 115,733 shares, compared to its average volume of 1,564,203. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The stock has a 50 day simple moving average of $80.07 and a 200 day simple moving average of $77.69. Pentair plc has a 12-month low of $57.18 and a 12-month high of $85.84. The stock has a market cap of $12.45 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, research analysts forecast that Pentair plc will post 4.22 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PNR shares. Oppenheimer raised their target price on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, April 15th. Stifel Nicolaus increased their price target on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. TD Cowen increased their price target on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Citigroup raised their target price on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Five research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $90.71.

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.