Pentair plc (NYSE:PNR) Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its position in shares of Pentair plc (NYSE:PNR) by 6.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,206 shares of the industrial products company’s stock after selling 514 shares during the period. Sigma Planning Corp’s holdings in Pentair were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PNR. Assetmark Inc. raised its stake in shares of Pentair by 332.5% during the 3rd quarter. Assetmark Inc. now owns 1,319 shares of the industrial products company’s stock worth $129,000 after buying an additional 1,014 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Pentair in the third quarter worth $253,000. Leavell Investment Management Inc. lifted its holdings in Pentair by 24.3% in the third quarter. Leavell Investment Management Inc. now owns 3,976 shares of the industrial products company’s stock valued at $389,000 after acquiring an additional 776 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Pentair during the 3rd quarter worth $93,000. Finally, Portside Wealth Group LLC increased its holdings in shares of Pentair by 11.7% in the 3rd quarter. Portside Wealth Group LLC now owns 2,989 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PNR shares. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Stifel Nicolaus boosted their target price on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price target on Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.13.

Pentair Stock Down 0.4 %

Shares of NYSE:PNR opened at $105.86 on Friday. Pentair plc has a 12-month low of $62.04 and a 12-month high of $107.78. The stock’s 50-day moving average price is $97.29 and its two-hundred day moving average price is $87.07. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.86 and a beta of 1.19.

Pentair (NYSE:PNR) last issued 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. The firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, research analysts forecast that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.87%. Pentair’s dividend payout ratio is presently 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.