Pentair plc (NYSE:PNR) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its position in shares of Pentair plc (NYSE:PNR) by 19.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,888 shares of the industrial products company’s stock after selling 43,937 shares during the period. Citigroup Inc. owned 0.11% of Pentair worth $18,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair during the second quarter worth about $25,000. Crewe Advisors LLC lifted its position in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 267 shares during the period. Family Firm Inc. purchased a new position in shares of Pentair in the 2nd quarter valued at approximately $48,000. Blue Trust Inc. increased its holdings in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Pentair during the first quarter worth approximately $58,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’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 transaction of $357,615.96. Following the sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PNR. Oppenheimer boosted their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. UBS Group increased their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Mizuho raised their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.38.

Pentair Stock Performance

NYSE:PNR opened at $108.96 on Thursday. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $18.00 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The firm has a 50-day moving average price of $99.99 and a two-hundred day moving average price of $88.57. Pentair plc has a twelve month low of $63.09 and a twelve month high of $110.71.

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

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.84%. Pentair’s dividend payout ratio is currently 23.00%.

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.