Castleark Management LLC Decreases Stock Position in Pentair plc (NYSE:PNR)

Castleark Management LLC trimmed its stake in shares of Pentair plc (NYSE:PNR) by 43.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,500 shares of the industrial products company’s stock after selling 41,690 shares during the quarter. Castleark Management LLC’s holdings in Pentair were worth $5,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. iA Global Asset Management Inc. grew its holdings in Pentair by 13.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 3,609 shares of the industrial products company’s stock worth $353,000 after acquiring an additional 421 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Pentair in the third quarter worth about $440,000. Wahed Invest LLC grew its stake in shares of Pentair by 10.8% in the third quarter. Wahed Invest LLC now owns 4,007 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 392 shares during the last quarter. Weiss Asset Management LP bought a new position in Pentair during the 3rd quarter valued at approximately $2,254,000. Finally, State Street Corp lifted its holdings in Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp boosted their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group upped their price objective on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. 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. Finally, Mizuho raised their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.13.

Pentair Trading Up 0.0 %

Shares of PNR stock opened at $108.11 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The stock has a fifty day simple moving average of $102.04 and a two-hundred day simple moving average of $89.92. The firm has a market capitalization of $17.86 billion, a PE ratio of 27.03, a PEG ratio of 1.94 and a beta of 1.20. Pentair plc has a 52-week low of $66.18 and a 52-week high of $110.71.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. Pentair’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

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

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair 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.