Pentair plc (NYSE:PNR) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its holdings in Pentair plc (NYSE:PNR) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,008 shares of the industrial products company’s stock after selling 311 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Pentair were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in 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 buying an additional 121 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 129 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of Pentair by 1.6% during the 3rd 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. Quarry LP grew its holdings in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

PNR has been the topic of a number of recent analyst reports. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of Pentair from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Mizuho boosted their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. KeyCorp boosted their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.38.

Pentair Stock Down 2.2 %

NYSE:PNR opened at $105.47 on Wednesday. The stock has a 50-day simple moving average of $103.47 and a 200 day simple moving average of $91.12. Pentair plc has a one year low of $68.08 and a one year high of $110.71. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business 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 business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 EPS. Sell-side analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio (DPR) is currently 23.00%.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.28% 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.