Quarry LP Acquires 134 Shares of Pentair plc (NYSE:PNR)

Quarry LP raised its holdings in shares of Pentair plc (NYSE:PNR) by 105.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 261 shares of the industrial products company’s stock after purchasing an additional 134 shares during the quarter. Quarry LP’s holdings in Pentair were worth $26,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Point72 DIFC Ltd bought a new stake in shares of Pentair during the 3rd quarter valued at $1,035,000. Ingalls & Snyder LLC acquired a new position in shares of Pentair in the 3rd quarter valued at $210,000. Integrated Wealth Concepts LLC grew its holdings in shares of Pentair by 1.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,814 shares of the industrial products company’s stock valued at $960,000 after buying an additional 187 shares during the period. Investment Management Corp of Ontario grew its holdings in shares of Pentair by 48.0% in the 3rd quarter. Investment Management Corp of Ontario now owns 5,553 shares of the industrial products company’s stock valued at $543,000 after buying an additional 1,800 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of Pentair by 3.8% in the 3rd quarter. HighTower Advisors LLC now owns 48,035 shares of the industrial products company’s stock valued at $4,694,000 after buying an additional 1,774 shares during the period. Institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PNR shares. Citigroup boosted their price target on shares of Pentair from $113.00 to $126.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Mizuho increased their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. UBS Group upped their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’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. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Pentair Stock Performance

Shares of NYSE:PNR opened at $108.29 on Friday. The company’s 50 day simple moving average is $103.00 and its 200 day simple moving average is $90.58. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a 1 year low of $66.77 and a 1 year high of $110.71.

Pentair (NYSE:PNR) last announced 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. The business had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. As a group, research analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. Pentair’s dividend payout ratio (DPR) is 23.00%.

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.