4,900 Shares in Pentair plc (NYSE:PNR) Purchased by Algert Global LLC

Algert Global LLC purchased a new stake in Pentair plc (NYSE:PNR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,900 shares of the industrial products company’s stock, valued at approximately $479,000.

Other hedge funds also recently modified their holdings of the company. Kingsview Wealth Management LLC acquired a new position in shares of Pentair in the third quarter valued at $247,000. Cerity Partners LLC increased its holdings in Pentair by 130.3% in the 3rd quarter. Cerity Partners LLC now owns 32,160 shares of the industrial products company’s stock valued at $3,145,000 after buying an additional 18,196 shares during the period. Blackhawk Capital Partners LLC. raised its stake in shares of Pentair by 3.6% in the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,382 shares of the industrial products company’s stock valued at $526,000 after buying an additional 187 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Pentair by 2.8% during the 3rd quarter. Moors & Cabot Inc. now owns 10,875 shares of the industrial products company’s stock worth $1,063,000 after acquiring an additional 292 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Pentair by 69.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 25,002 shares of the industrial products company’s stock valued at $2,445,000 after acquiring an additional 10,284 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Pentair Trading Up 0.0 %

Shares of PNR opened at $108.99 on Friday. The stock’s fifty day simple moving average is $100.85 and its 200-day simple moving average is $89.03. The firm has a market capitalization of $18.01 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. Pentair plc has a 12-month low of $63.38 and a 12-month high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $988.53 million. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PNR shares. TD Cowen increased their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays raised their target price on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. Finally, KeyCorp boosted their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.38.

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.