Pentair plc (NYSE:PNR) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC lessened its holdings in shares of Pentair plc (NYSE:PNR) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,602 shares of the industrial products company’s stock after selling 202 shares during the period. OneAscent Wealth Management LLC’s holdings in Pentair were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PNR. DekaBank Deutsche Girozentrale increased its holdings in Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after acquiring an additional 1,228,635 shares in the last quarter. Swedbank AB purchased a new position in shares of Pentair in the 1st quarter worth about $97,083,000. Massachusetts Financial Services Co. MA lifted its position in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after buying an additional 996,325 shares in the last quarter. Interval Partners LP boosted its position in Pentair by 289.6% during the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Pentair by 44.7% in the second quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock valued at $51,589,000 after buying an additional 207,830 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 0.0 %

NYSE PNR opened at $105.87 on Tuesday. Pentair plc has a fifty-two week low of $62.04 and a fifty-two week high of $107.78. 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 has a fifty day moving average price of $98.09 and a two-hundred day moving average price of $87.55. The stock has a market capitalization of $17.49 billion, a PE ratio of 26.47, a PEG ratio of 1.89 and a beta of 1.19.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating 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 revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. Equities analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PNR shares. The Goldman Sachs Group raised their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Oppenheimer increased 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 raised their target price on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, UBS Group raised their target price on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.13.

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.