United Asset Strategies Inc. Decreases Position in Pentair plc (NYSE:PNR)

United Asset Strategies Inc. decreased its stake in Pentair plc (NYSE:PNR) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,276 shares of the industrial products company’s stock after selling 401 shares during the period. United Asset Strategies Inc.’s holdings in Pentair were worth $1,005,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNR. Millennium Management LLC lifted its holdings in shares of Pentair by 0.7% in the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after purchasing an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pentair by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after buying an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after acquiring an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after acquiring an additional 1,228,635 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PNR shares. KeyCorp raised their price target on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen lifted their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on shares of Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Oppenheimer raised their price target on Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Stock Down 0.3 %

Shares of NYSE:PNR opened at $99.12 on Friday. Pentair plc has a 12-month low of $57.45 and a 12-month high of $101.00. The stock’s 50-day moving average price is $93.69 and its two-hundred day moving average price is $85.31. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.77 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results 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. The firm had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s quarterly 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. Investors of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.93%. Pentair’s dividend payout ratio is currently 23.00%.

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.