Trajan Wealth LLC Sells 135 Shares of Pentair plc (NYSE:PNR)

Trajan Wealth LLC trimmed its position in Pentair plc (NYSE:PNR) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,490 shares of the industrial products company’s stock after selling 135 shares during the quarter. Trajan Wealth LLC’s holdings in Pentair were worth $243,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in Pentair by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock worth $15,820,000 after acquiring an additional 8,966 shares during the period. Cetera Investment Advisers raised its position in shares of Pentair by 222.8% in the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after buying an additional 34,959 shares in the last quarter. Norden Group LLC bought a new stake in shares of Pentair in the first quarter valued at approximately $1,103,000. Swedbank AB grew its position in Pentair by 0.9% during the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock worth $87,885,000 after buying an additional 10,000 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Pentair during the 2nd quarter worth $631,000. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Up 0.3 %

Shares of NYSE PNR opened at $99.37 on Thursday. Pentair plc has a 1 year low of $57.45 and a 1 year high of $101.00. 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 firm has a market cap of $16.42 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. The company has a 50 day simple moving average of $93.40 and a 200 day simple moving average of $85.21.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 16.29% and a return on equity of 20.48%. Pentair’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, research analysts forecast that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. Pentair’s payout ratio is 23.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PNR shares. Mizuho upped their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $104.80.

About Pentair

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.