Oppenheimer & Co. Inc. Reduces Holdings in Pentair plc (NYSE:PNR)

Oppenheimer & Co. Inc. lessened its holdings in Pentair plc (NYSE:PNR) by 2.3% during the 1st quarter, Holdings Channel reports. The firm owned 55,575 shares of the industrial products company’s stock after selling 1,287 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Pentair were worth $4,748,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Lindbrook Capital LLC lifted its stake in Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares in the last quarter. Quent Capital LLC lifted its position in shares of Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Rational Advisors LLC boosted its stake in shares of Pentair by 200.0% during the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 422 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Pentair by 24.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 173 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Pentair in the 4th quarter valued at about $69,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PNR shares. Barclays lifted their price target on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Citigroup boosted their price target on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. UBS Group raised their price objective on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $91.00 price objective on shares of Pentair in a research report on Friday, March 22nd. Finally, TD Cowen raised their price target on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.71.

Insider Buying and Selling at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares in the company, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Pentair Stock Up 1.0 %

Shares of NYSE:PNR opened at $79.23 on Friday. The stock has a 50-day simple moving average of $79.51 and a 200-day simple moving average of $77.90. The stock has a market capitalization of $13.15 billion, a P/E ratio of 21.07, a PEG ratio of 1.38 and a beta of 1.21. Pentair plc has a 1 year low of $57.18 and a 1 year high of $85.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90.

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

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a yield of 1.16%. Pentair’s dividend payout ratio is currently 24.47%.

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.