AdvisorNet Financial Inc Cuts Stock Position in Pentair plc (NYSE:PNR)

AdvisorNet Financial Inc trimmed its position in shares of Pentair plc (NYSE:PNR) by 26.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 405 shares of the industrial products company’s stock after selling 145 shares during the quarter. AdvisorNet Financial Inc’s holdings in Pentair were worth $41,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Tsfg LLC purchased a new stake in shares of Pentair during the fourth quarter worth approximately $295,000. Miracle Mile Advisors LLC grew its holdings in Pentair by 4.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 13,391 shares of the industrial products company’s stock valued at $1,348,000 after buying an additional 626 shares in the last quarter. Friedenthal Financial purchased a new stake in Pentair in the 4th quarter valued at $56,000. Eastern Bank grew its holdings in Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after buying an additional 300 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in shares of Pentair in the 4th quarter valued at $989,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNR has been the topic of several recent analyst reports. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Wolfe Research initiated coverage on Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price on the stock. Stifel Nicolaus increased their target price on Pentair from $115.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup reduced their price target on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays increased their price target on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.13.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is owned by insiders.

Pentair Trading Up 0.4 %

NYSE:PNR opened at $102.98 on Friday. The stock’s 50 day moving average price is $104.27 and its 200 day moving average price is $94.86. The company has a market capitalization of $17.02 billion, a PE ratio of 25.75, a P/E/G ratio of 1.55 and a beta of 1.21. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a 52-week low of $69.56 and a 52-week high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, research analysts anticipate that Pentair plc will post 4.28 EPS for the current year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. This is a boost from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, January 24th. Pentair’s dividend payout ratio (DPR) 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.