Wealth Enhancement Advisory Services LLC Has $7.03 Million Stake in Pentair plc (NYSE:PNR)

Wealth Enhancement Advisory Services LLC reduced its holdings in Pentair plc (NYSE:PNR) by 9.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 82,271 shares of the industrial products company’s stock after selling 8,812 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Pentair were worth $7,029,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Pentair by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after purchasing an additional 204,416 shares during the period. Impax Asset Management Group plc boosted its position in shares of Pentair by 1.3% during the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after purchasing an additional 131,745 shares in the last quarter. Kodai Capital Management LP acquired a new position in shares of Pentair in the 4th quarter valued at $173,280,000. Charles Schwab Investment Management Inc. increased its position in shares of Pentair by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock valued at $100,179,000 after buying an additional 16,875 shares in the last quarter. Finally, KBC Group NV raised its stake in Pentair by 49.2% during the 4th quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock worth $86,601,000 after buying an additional 392,785 shares during the period. 92.37% of the stock is owned by institutional investors.

Insider Buying and Selling at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the sale, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at approximately $3,254,534.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Pentair Trading Up 0.8 %

Pentair stock opened at $76.67 on Monday. The company has a market cap of $12.73 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.33 and a beta of 1.22. The firm has a 50-day moving average of $80.24 and a 200-day moving average of $77.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. Pentair plc has a one year low of $57.18 and a one year high of $85.84.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts expect that Pentair plc will post 4.22 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is currently 24.47%.

Analyst Ratings Changes

Several brokerages have issued reports on PNR. Barclays increased their price target on Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. UBS Group increased their target price on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Mizuho raised their target price on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Citigroup upped their price target on shares of Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Oppenheimer raised their price objective on shares of Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Pentair presently has an average rating of “Moderate Buy” and a consensus target price of $90.71.

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.