State of Alaska Department of Revenue grew its holdings in shares of Pentair plc (NYSE:PNR – Get Rating) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,750 shares of the industrial products company's stock after acquiring an additional 470 shares during the period. State of Alaska Department of Revenue's holdings in Pentair were worth $1,087,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Brinker Capital Investments LLC grew its stake in shares of Pentair by 3.5% during the first quarter. Brinker Capital Investments LLC now owns 5,995 shares of the industrial products company's stock valued at $325,000 after acquiring an additional 204 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Pentair by 1.9% during the first quarter. Moors & Cabot Inc. now owns 11,408 shares of the industrial products company's stock valued at $618,000 after acquiring an additional 214 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Pentair by 58.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 623 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 231 shares in the last quarter. Xponance Inc. grew its stake in shares of Pentair by 2.4% during the first quarter. Xponance Inc. now owns 10,688 shares of the industrial products company's stock valued at $579,000 after acquiring an additional 253 shares in the last quarter. Finally, Cooper Financial Group grew its stake in shares of Pentair by 5.3% during the first quarter. Cooper Financial Group now owns 5,358 shares of the industrial products company's stock valued at $290,000 after acquiring an additional 268 shares in the last quarter. 87.08% of the stock is currently owned by institutional investors and hedge funds.
Get Pentair alerts:Wall Street Analyst Weigh In
Several equities analysts have recently commented on PNR shares. Northcoast Research started coverage on shares of Pentair in a research report on Friday, July 15th. They set a "neutral" rating on the stock. Mizuho reduced their price target on shares of Pentair from $54.00 to $48.00 in a research report on Monday, July 18th. Morgan Stanley reduced their price target on shares of Pentair from $49.00 to $41.00 and set an "underweight" rating on the stock in a research report on Friday, July 15th. StockNews.com cut shares of Pentair from a "buy" rating to a "hold" rating in a research report on Tuesday, August 16th. Finally, Cowen reduced their price target on shares of Pentair from $75.00 to $65.00 in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $61.78.
Insider Transactions at Pentair
In other news, EVP Philip M. Rolchigo sold 2,531 shares of the company's stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $47.90, for a total value of $121,234.90. Following the completion of the sale, the executive vice president now directly owns 21,339 shares of the company's stock, valued at approximately $1,022,138.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.89% of the company's stock.Pentair Price Performance
NYSE PNR opened at $40.82 on Wednesday. Pentair plc has a 52 week low of $39.99 and a 52 week high of $80.10. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.36. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company has a 50-day moving average price of $46.61 and a two-hundred day moving average price of $49.14.
Pentair (NYSE:PNR – Get Rating) last posted its earnings results on Tuesday, July 26th. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. Pentair had a net margin of 13.99% and a return on equity of 24.60%. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. Pentair's quarterly revenue was up 13.1% on a year-over-year basis. Analysts forecast that Pentair plc will post 3.71 EPS for the current year.
Pentair Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Friday, October 21st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, October 20th. Pentair's dividend payout ratio is currently 24.93%.
Pentair Profile
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Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.
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