Pentair plc (NYSE:PNR) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its position in Pentair plc (NYSE:PNR) by 101.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,933 shares of the industrial products company’s stock after acquiring an additional 6,024 shares during the quarter. Sanctuary Advisors LLC’s holdings in Pentair were worth $1,276,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PNR. Coldstream Capital Management Inc. increased its stake in Pentair by 13.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,652 shares of the industrial products company’s stock worth $361,000 after buying an additional 433 shares during the period. Geode Capital Management LLC increased its position in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after acquiring an additional 19,853 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Pentair by 2.3% in the third quarter. M&T Bank Corp now owns 33,132 shares of the industrial products company’s stock worth $3,240,000 after acquiring an additional 734 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Pentair in the third quarter valued at about $6,319,000. Finally, MML Investors Services LLC grew its stake in Pentair by 3.0% during the 3rd quarter. MML Investors Services LLC now owns 7,281 shares of the industrial products company’s stock valued at $712,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. UBS Group raised 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. TD Cowen upped their target price on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer lifted their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Mizuho upped their price objective on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.38.

Pentair Stock Performance

PNR opened at $101.95 on Friday. Pentair plc has a twelve month low of $68.08 and a twelve month high of $110.71. The stock has a market cap of $16.85 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The business’s 50 day moving average is $103.83 and its 200-day moving average is $91.42. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

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

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.25 per share. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, January 24th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

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.