Pentair plc (NYSE:PNR) Holdings Lowered by OneAscent Financial Services LLC

OneAscent Financial Services LLC trimmed its stake in shares of Pentair plc (NYSE:PNR) by 31.5% during the third quarter, Holdings Channel reports. The institutional investor owned 3,902 shares of the industrial products company’s stock after selling 1,797 shares during the period. OneAscent Financial Services LLC’s holdings in Pentair were worth $382,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on PNR shares. Stifel Nicolaus upped their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. KeyCorp upped their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” 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 stock a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is owned by corporate insiders.

Pentair Stock Performance

Shares of NYSE:PNR opened at $105.87 on Tuesday. The company has a market capitalization of $17.49 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 1.89 and a beta of 1.19. The firm’s 50 day simple moving average is $98.09 and its 200 day simple moving average is $87.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a fifty-two week low of $62.04 and a fifty-two week high of $107.78.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. As a group, sell-side analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.87%. Pentair’s dividend payout ratio (DPR) 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.