Pentair plc (NYSE:PNR) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Pentair plc (NYSE:PNR) by 0.2% in the fourth quarter, Holdings Channel reports. The firm owned 85,401 shares of the industrial products company’s stock after buying an additional 168 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pentair were worth $8,351,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PNR. Massachusetts Financial Services Co. MA raised its holdings in shares of Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares during the last quarter. Interval Partners LP increased its position in shares of Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares in the last quarter. National Bank of Canada FI raised its stake in Pentair by 862.2% in the 3rd quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock valued at $43,212,000 after purchasing an additional 395,962 shares during the last quarter. World Investment Advisors LLC purchased a new position in Pentair in the 3rd quarter valued at $26,748,000. Finally, State Street Corp boosted its stake in Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after purchasing an additional 259,922 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of Pentair stock opened at $96.88 on Monday. The stock has a market capitalization of $16.01 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 1.91 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. The business has a 50-day moving average of $104.38 and a 200 day moving average of $94.09. Pentair plc has a 12 month low of $69.42 and a 12 month high of $110.71.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating 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 business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, sell-side analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a $0.25 dividend. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, January 24th. Pentair’s dividend payout ratio (DPR) is presently 25.00%.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The stock was 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 owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PNR. TD Cowen increased their target price on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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. JPMorgan Chase & Co. boosted their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target for the company. Finally, KeyCorp reissued a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Six investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.60.

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.