Park Avenue Securities LLC Acquires 4,308 Shares of Pentair plc (NYSE:PNR)

Park Avenue Securities LLC raised its stake in Pentair plc (NYSE:PNR) by 22.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,712 shares of the industrial products company’s stock after acquiring an additional 4,308 shares during the quarter. Park Avenue Securities LLC’s holdings in Pentair were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quarry LP increased its holdings in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 327 shares during the period. Eastern Bank boosted its holdings in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 300 shares during the last quarter. Friedenthal Financial bought a new stake in Pentair during the 4th quarter worth about $56,000. Finally, True Wealth Design LLC lifted its position in Pentair by 4,450.0% during the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 623 shares during the period. 92.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

PNR has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on shares of Pentair from $115.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Barclays increased their target price on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup reduced their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their target price on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Pentair has an average rating of “Moderate Buy” and an average price target of $111.13.

Pentair Stock Performance

Shares of Pentair stock opened at $102.98 on Friday. The stock’s 50-day moving average is $104.27 and its 200-day moving average is $94.72. Pentair plc has a one year low of $69.56 and a one year high of $110.71. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.55 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

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

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio is presently 25.00%.

Pentair 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.