Pentair plc (NYSE:PNR) Stock Position Decreased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its stake in shares of Pentair plc (NYSE:PNR) by 32.8% in the 3rd quarter, Holdings Channel reports. The firm owned 8,838 shares of the industrial products company’s stock after selling 4,313 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Pentair were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Pentair in the second quarter worth $25,000. Crewe Advisors LLC increased its stake in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. raised its holdings in shares of Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after buying an additional 327 shares during the last quarter. Family Firm Inc. bought a new position in Pentair in the 2nd quarter worth approximately $48,000. Finally, LRI Investments LLC acquired a new stake in Pentair in the 1st quarter valued at approximately $56,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Price Performance

Shares of PNR opened at $105.86 on Friday. The firm has a market cap of $17.49 billion, a PE ratio of 26.47, a PEG ratio of 1.90 and a beta of 1.19. The firm’s 50 day moving average price is $97.29 and its 200 day moving average price is $87.07. 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 plc has a twelve month low of $62.04 and a twelve month high of $107.78.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share 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 firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same period in the previous year, the company earned $0.94 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts expect that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.87%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. KeyCorp raised their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Oppenheimer upped their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Mizuho raised their target price on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Pentair presently has an average rating of “Moderate Buy” and an average price target of $105.13.

Insider Buying and Selling at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.