Pentair plc (NYSE:PNR) Shares Sold by Golden State Equity Partners

Golden State Equity Partners trimmed its holdings in shares of Pentair plc (NYSE:PNR) by 31.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,256 shares of the industrial products company’s stock after selling 2,423 shares during the quarter. Golden State Equity Partners’ holdings in Pentair were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its position in shares of Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares during the last quarter. Wedmont Private Capital grew its position in Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 128 shares in the last quarter. Fifth Third Bancorp grew its position 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 acquiring an additional 129 shares in the last quarter. Inspire Advisors LLC grew its position in Pentair by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after acquiring an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after acquiring an additional 139 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Barclays lifted their price objective on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer lifted their price objective on Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Stock Up 0.3 %

PNR opened at $99.37 on Thursday. 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 firm has a market cap of $16.42 billion, a P/E ratio of 24.84, a PEG ratio of 1.76 and a beta of 1.20. Pentair plc has a 52 week low of $57.45 and a 52 week high of $101.00. The business’s fifty day simple moving average is $93.40 and its 200 day simple moving average is $85.21.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million for 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 company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. As a group, equities research analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.93%. Pentair’s dividend payout ratio is presently 23.00%.

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.