Sigma Planning Corp Decreases Position in Pentair plc (NYSE:PNR)

Sigma Planning Corp reduced its stake in shares of Pentair plc (NYSE:PNR) by 6.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,206 shares of the industrial products company’s stock after selling 514 shares during the period. Sigma Planning Corp’s holdings in Pentair were worth $705,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNR. Stifel Nicolaus lifted their price target on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays boosted their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer lifted their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Pentair Trading Down 0.4 %

Shares of NYSE:PNR opened at $105.86 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $97.29 and its 200 day moving average price is $87.07. The company has a market cap of $17.49 billion, a PE ratio of 26.47, a P/E/G ratio of 1.86 and a beta of 1.19. Pentair plc has a fifty-two week low of $62.04 and a fifty-two week high of $107.78.

Pentair (NYSE:PNR) last issued its quarterly earnings data 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. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Insider Buying and Selling

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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.