Pentair plc (NYSE:PNR) Position Cut by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of Pentair plc (NYSE:PNR) by 31.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,357 shares of the industrial products company’s stock after selling 68,172 shares during the quarter. Bank of Montreal Can’s holdings in Pentair were worth $14,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PNR. Independent Advisor Alliance grew its position in Pentair by 2.3% during the 3rd quarter. Independent Advisor Alliance now owns 7,525 shares of the industrial products company’s stock worth $736,000 after purchasing an additional 170 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Pentair by 81,975.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,283 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 3,279 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Pentair by 1.5% during the third quarter. Fisher Asset Management LLC now owns 140,707 shares of the industrial products company’s stock valued at $13,760,000 after purchasing an additional 2,072 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Pentair by 30.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 59,880 shares of the industrial products company’s stock worth $5,856,000 after acquiring an additional 14,057 shares during the period. Finally, Marco Investment Management LLC bought a new position in shares of Pentair in the third quarter worth about $205,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNR. Stifel Nicolaus increased their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research started coverage on Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eleven 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 $106.38.

Insiders Place Their Bets

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the 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 completion of the transaction, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Pentair Stock Performance

NYSE PNR opened at $108.99 on Friday. Pentair plc has a 12-month low of $63.38 and a 12-month high of $110.71. The company’s 50 day moving average is $100.85 and its 200-day moving average is $89.03. 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 firm has a market cap of $18.01 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19.

Pentair (NYSE:PNR) last announced its earnings results 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. 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 analyst estimates of $988.53 million. During the same period in the prior year, the company earned $0.94 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

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

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.