Moors & Cabot Inc. Boosts Holdings in Pentair plc (NYSE:PNR)

Moors & Cabot Inc. grew its stake in Pentair plc (NYSE:PNR) by 2.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,875 shares of the industrial products company’s stock after buying an additional 292 shares during the period. Moors & Cabot Inc.’s holdings in Pentair were worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Pentair in the 2nd quarter worth $25,000. Crewe Advisors LLC lifted its holdings in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 267 shares during the last quarter. Family Firm Inc. purchased a new stake in Pentair in the second quarter worth $48,000. Blue Trust Inc. lifted its holdings in Pentair by 165.2% during the 3rd 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 in the last quarter. Finally, LRI Investments LLC bought a new position in Pentair in the first quarter worth approximately $56,000. 92.37% of the stock is currently owned by institutional investors.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total value 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. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on PNR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a research report on Thursday. KeyCorp raised their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. TD Cowen increased their price objective on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.13.

Pentair Stock Performance

Shares of NYSE PNR opened at $106.11 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The firm has a market cap of $17.53 billion, a P/E ratio of 26.53, a PEG ratio of 1.87 and a beta of 1.19. Pentair plc has a 1 year low of $62.33 and a 1 year high of $107.78. The stock has a fifty day moving average price of $99.07 and a two-hundred day moving average price of $87.97.

Pentair (NYSE:PNR) last announced its quarterly 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. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same quarter in the prior year, the business posted $0.94 EPS. Pentair’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts forecast that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend 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.