Sequoia Financial Advisors LLC Boosts Holdings in Pentair plc (NYSE:PNR)

Sequoia Financial Advisors LLC lifted its stake in shares of Pentair plc (NYSE:PNR) by 82.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,034 shares of the industrial products company’s stock after purchasing an additional 2,279 shares during the period. Sequoia Financial Advisors LLC’s holdings in Pentair were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PNR. State Board of Administration of Florida Retirement System raised its holdings in Pentair by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after acquiring an additional 8,966 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Pentair by 222.8% during the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after acquiring an additional 34,959 shares during the period. Norden Group LLC acquired a new position in shares of Pentair during the 1st quarter valued at about $1,103,000. Swedbank AB grew its holdings in shares of Pentair by 0.9% in the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after purchasing an additional 10,000 shares during the period. Finally, ORG Partners LLC acquired a new stake in Pentair during the second quarter worth about $631,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

Pentair stock opened at $98.96 on Monday. The stock has a market capitalization of $16.43 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.96. Pentair plc has a 12 month low of $57.40 and a 12 month high of $101.00. The business has a 50 day simple moving average of $92.82 and a 200-day simple moving average of $84.96.

Pentair (NYSE:PNR) last issued its 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. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the prior year, the business posted $0.94 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts predict that Pentair plc will post 4.27 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Wall Street Analyst Weigh In

PNR has been the topic of several recent analyst reports. Oppenheimer boosted their target price on shares of Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. UBS Group increased their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their price target on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pentair presently has an average rating of “Moderate Buy” and a consensus target price 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.