Commerce Bank Sells 41,790 Shares of Pentair plc (NYSE:PNR)

Commerce Bank decreased its holdings in shares of Pentair plc (NYSE:PNR) by 80.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,465 shares of the industrial products company’s stock after selling 41,790 shares during the period. Commerce Bank’s holdings in Pentair were worth $1,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PNR. Opal Wealth Advisors LLC acquired a new position in Pentair during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC raised its stake in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after buying an additional 267 shares during the period. Blue Trust Inc. raised its stake in Pentair by 165.2% during the 3rd 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 period. Family Firm Inc. acquired a new position in Pentair during the 2nd quarter worth approximately $48,000. Finally, LRI Investments LLC acquired a new position in Pentair during the 1st quarter worth approximately $56,000. Institutional investors own 92.37% of the company’s stock.

Pentair Trading Up 0.8 %

NYSE PNR opened at $106.93 on Monday. The stock’s 50-day simple moving average is $99.38 and its two-hundred day simple moving average is $88.22. Pentair plc has a twelve month low of $62.63 and a twelve month high of $107.78. 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 company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 26.73, 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter 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 business 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 was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.86%. Pentair’s dividend payout ratio is currently 23.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNR shares. Barclays upped their price target on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp increased their price objective on Pentair from $110.00 to $115.00 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.13.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated 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 owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.