Pentair plc (NYSE:PNR) Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its position in shares of Pentair plc (NYSE:PNR) by 24.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 254,891 shares of the industrial products company’s stock after selling 81,942 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Pentair were worth $24,926,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Pentair by 1.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital increased its holdings 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 last quarter. Fifth Third Bancorp raised its position in shares of Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 129 shares in the last quarter. Inspire Advisors LLC lifted its stake in Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Pentair by 0.4% in the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 139 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on PNR shares. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday. UBS Group boosted their target price on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays raised their price target on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

Pentair Stock Up 0.8 %

Shares of NYSE:PNR opened at $106.91 on Friday. The company has a market cap of $17.66 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.87 and a beta of 1.19. Pentair plc has a fifty-two week low of $62.63 and a fifty-two week high of $107.78. The firm’s 50-day simple moving average is $99.07 and its 200-day simple moving average is $87.97. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities research analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.86%. Pentair’s payout ratio is currently 23.00%.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction dated 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. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

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.