PNC Financial Services Group Inc. Grows Stock Holdings in Pentair plc (NYSE:PNR)

PNC Financial Services Group Inc. raised its holdings in Pentair plc (NYSE:PNR) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,620 shares of the industrial products company’s stock after purchasing an additional 1,276 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pentair were worth $3,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new position in shares of Pentair during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC grew its stake in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after buying an additional 267 shares during the period. Family Firm Inc. purchased a new stake in shares of Pentair during the 2nd quarter valued at $48,000. Blue Trust Inc. boosted its position in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares during the period. Finally, LRI Investments LLC purchased a new stake in Pentair during the 1st quarter worth $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Pentair Trading Up 0.8 %

Shares of NYSE:PNR opened at $106.93 on Monday. The stock has a market capitalization of $17.67 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.89 and a beta of 1.19. Pentair plc has a 1-year low of $62.63 and a 1-year high of $107.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The company has a 50 day moving average price of $99.38 and a 200 day moving average price of $88.22.

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

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.86%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PNR shares. UBS Group upped their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research note on Thursday. KeyCorp increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.13.

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.