First Affirmative Financial Network Sells 712 Shares of Pentair plc (NYSE:PNR)

First Affirmative Financial Network lessened its holdings in shares of Pentair plc (NYSE:PNR) by 19.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,033 shares of the industrial products company’s stock after selling 712 shares during the quarter. First Affirmative Financial Network’s holdings in Pentair were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Pentair by 12.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 36,632 shares of the industrial products company’s stock worth $2,372,000 after buying an additional 3,973 shares during the last quarter. Prudential PLC bought a new position in shares of Pentair in the third quarter worth approximately $566,000. Rafferty Asset Management LLC grew its position in Pentair by 57.7% during the third quarter. Rafferty Asset Management LLC now owns 18,820 shares of the industrial products company’s stock valued at $1,219,000 after acquiring an additional 6,884 shares during the last quarter. QRG Capital Management Inc. bought a new position in Pentair during the third quarter valued at approximately $563,000. Finally, Envestnet Asset Management Inc. grew its position in Pentair by 2.8% during the third quarter. Envestnet Asset Management Inc. now owns 257,646 shares of the industrial products company’s stock valued at $16,683,000 after acquiring an additional 6,970 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PNR shares. Barclays raised their target price on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. UBS Group raised their price target on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TD Cowen raised their price target on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Stifel Nicolaus raised their price target on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $91.00 price target on shares of Pentair in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

Insider Activity

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the transaction, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at approximately $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair Trading Up 0.2 %

Pentair stock opened at $79.47 on Friday. The business has a 50-day simple moving average of $80.52 and a two-hundred day simple moving average of $77.26. The company has a market cap of $13.19 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.36 and a beta of 1.22. Pentair plc has a 52-week low of $57.18 and a 52-week high of $85.84. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts predict that Pentair plc will post 4.24 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s payout ratio is currently 24.47%.

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.