BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 3,967 Shares of Pentair plc (NYSE:PNR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Pentair plc (NYSE:PNR) by 12.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,697 shares of the industrial products company’s stock after selling 3,967 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Pentair were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Harbour Investments Inc. increased its holdings in shares of Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 636 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Pentair by 222.8% during the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after buying an additional 34,959 shares during the period. Swedbank AB grew its stake in Pentair by 0.9% in the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after buying an additional 10,000 shares during the last quarter. ORG Partners LLC bought a new position in Pentair in the 2nd quarter valued at about $631,000. Finally, Pathstone Holdings LLC lifted its position in Pentair by 47.4% during the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 6,391 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PNR shares. Oppenheimer increased their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp boosted their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group increased their target price on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price target on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.38.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair 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 transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.28% of the stock is currently owned by company insiders.

Pentair Trading Down 0.1 %

Shares of PNR stock opened at $108.76 on Thursday. Pentair plc has a twelve month low of $65.31 and a twelve month high of $110.71. The stock’s fifty day simple moving average is $101.36 and its 200 day simple moving average is $89.46. 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 capitalization of $17.97 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.94 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. Pentair’s dividend payout ratio is 23.00%.

Pentair Company 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.