New England Research & Management Inc. Trims Stock Position in Pentair plc (NYSE:PNR)

New England Research & Management Inc. lowered its stake in shares of Pentair plc (NYSE:PNR) by 3.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 4,250 shares of the industrial products company’s stock after selling 150 shares during the period. New England Research & Management Inc.’s holdings in Pentair were worth $363,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Czech National Bank increased its stake in shares of Pentair by 0.5% in the 1st quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock valued at $2,486,000 after purchasing an additional 143 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after buying an additional 154 shares during the last quarter. M&T Bank Corp boosted its holdings in Pentair by 0.5% in the 4th quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock worth $2,369,000 after buying an additional 172 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Pentair by 24.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after buying an additional 173 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in Pentair by 5.0% in the 4th quarter. Ieq Capital LLC now owns 4,426 shares of the industrial products company’s stock worth $322,000 after buying an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Buying and Selling at Pentair

In other Pentair 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 sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Pentair Stock Up 0.8 %

Shares of NYSE PNR opened at $76.67 on Friday. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.33 and a beta of 1.22. 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 plc has a 52-week low of $57.18 and a 52-week high of $85.84. The business’s 50 day moving average is $80.24 and its two-hundred day moving average is $77.59.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. Research analysts predict that Pentair plc will post 4.22 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PNR shares. Oppenheimer lifted their price objective on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. BNP Paribas started coverage on Pentair in a report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price on the stock. TD Cowen boosted their target price on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, April 15th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $91.00 target price on shares of Pentair in a report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.71.

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.