LMR Partners LLP Trims Stake in Pentair plc (NYSE:PNR)

LMR Partners LLP lowered its holdings in Pentair plc (NYSE:PNR) by 41.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,366 shares of the industrial products company’s stock after selling 3,121 shares during the period. LMR Partners LLP’s holdings in Pentair were worth $427,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in Pentair by 1.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital raised its position in shares of Pentair by 3.9% during the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after buying an additional 128 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 129 shares during the last quarter. Inspire Advisors LLC grew its position in Pentair by 1.6% in the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after acquiring an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in Pentair by 0.4% in the second 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 during the last quarter. Institutional investors own 92.37% of the company’s stock.

Insider Buying and Selling at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was 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 owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. 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. Royal Bank of Canada upped their target price on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Barclays increased their target price on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Pentair Stock Down 1.0 %

NYSE PNR opened at $104.76 on Wednesday. Pentair plc has a 1 year low of $62.04 and a 1 year high of $107.78. The stock has a market capitalization of $17.31 billion, a PE ratio of 26.19, a PEG ratio of 1.89 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The business’s 50-day moving average is $98.44 and its 200 day moving average is $87.73.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm 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 business’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 EPS. Sell-side analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, October 18th. 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.