Atria Investments Inc Decreases Stock Holdings in Pentair plc (NYSE:PNR)

Atria Investments Inc lessened its stake in shares of Pentair plc (NYSE:PNR) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,736 shares of the industrial products company’s stock after selling 236 shares during the quarter. Atria Investments Inc’s holdings in Pentair were worth $2,321,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after buying an additional 1,228,635 shares during the last quarter. Swedbank AB bought a new position in Pentair in the first quarter valued at about $97,083,000. Massachusetts Financial Services Co. MA boosted its position in Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after purchasing an additional 996,325 shares during the last quarter. Interval Partners LP increased its position in shares of Pentair by 289.6% during the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after purchasing an additional 710,703 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Pentair by 44.7% in the 2nd quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock worth $51,589,000 after purchasing an additional 207,830 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Down 0.4 %

NYSE PNR opened at $105.86 on Friday. 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 $62.04 and a 52 week high of $107.78. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.86 and a beta of 1.19. The company has a fifty day moving average of $97.29 and a two-hundred day moving average of $87.07.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating 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 firm had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. Pentair’s dividend payout ratio is currently 23.00%.

Analysts Set New Price Targets

A number of brokerages have commented on PNR. UBS Group upped their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Mizuho raised their target price on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen boosted their price objective on Pentair from $95.00 to $110.00 and gave the company a “buy” 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the 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 transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.