Nisa Investment Advisors LLC Sells 699 Shares of Pentair plc (NYSE:PNR)

Nisa Investment Advisors LLC decreased its holdings in Pentair plc (NYSE:PNR) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 59,334 shares of the industrial products company’s stock after selling 699 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Pentair were worth $5,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale raised its holdings in Pentair by 352.5% in 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 during the period. Swedbank AB acquired a new position in shares of Pentair in the first quarter valued at approximately $97,083,000. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $159,655,000 after purchasing an additional 996,325 shares during the period. Interval Partners LP lifted its holdings 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 last quarter. Finally, SG Americas Securities LLC boosted its stake in Pentair by 360.6% in the 1st quarter. SG Americas Securities LLC now owns 601,171 shares of the industrial products company’s stock valued at $51,364,000 after purchasing an additional 470,662 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Price Performance

Shares of NYSE:PNR opened at $99.12 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. Pentair plc has a 52 week low of $57.45 and a 52 week high of $101.00. The firm has a market cap of $16.38 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. The firm’s fifty day moving average is $93.69 and its 200-day moving average is $85.31.

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. 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 will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.93%. Pentair’s payout ratio is 23.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PNR. Oppenheimer raised their price target on shares of Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. UBS Group boosted their price target on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised 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. Finally, Royal Bank of Canada upped their target price on Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.80.

About Pentair

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.