Parallel Advisors LLC Sells 455 Shares of Pentair plc (NYSE:PNR)

Parallel Advisors LLC reduced its position in shares of Pentair plc (NYSE:PNRFree Report) by 34.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865 shares of the industrial products company’s stock after selling 455 shares during the period. Parallel Advisors LLC’s holdings in Pentair were worth $63,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC raised its position in Pentair by 112.0% during the fourth quarter. Hsbc Holdings PLC now owns 119,050 shares of the industrial products company’s stock valued at $8,660,000 after purchasing an additional 62,900 shares in the last quarter. Intech Investment Management LLC acquired a new position in Pentair during the fourth quarter valued at approximately $819,000. Neuberger Berman Group LLC raised its position in Pentair by 14.4% during the fourth quarter. Neuberger Berman Group LLC now owns 18,541 shares of the industrial products company’s stock valued at $1,348,000 after purchasing an additional 2,333 shares in the last quarter. Commerce Bank raised its position in Pentair by 172.7% during the fourth quarter. Commerce Bank now owns 9,671 shares of the industrial products company’s stock valued at $703,000 after purchasing an additional 6,125 shares in the last quarter. Finally, US Bancorp DE raised its position in Pentair by 1.4% during the fourth quarter. US Bancorp DE now owns 190,698 shares of the industrial products company’s stock valued at $13,866,000 after purchasing an additional 2,695 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNR has been the subject of several research analyst reports. UBS Group upped their price target on shares of Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. BNP Paribas initiated coverage on shares of Pentair in a report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price target for the company. Mizuho upped their price target on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. KeyCorp upped their price target on shares of Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, Citigroup upped their price target on shares of Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

Read Our Latest Stock Report on Pentair

Pentair Stock Performance

Shares of PNR opened at $78.35 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $13.01 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. The firm’s fifty day simple moving average is $81.65 and its two-hundred day simple moving average is $76.03. Pentair plc has a 12 month low of $57.18 and a 12 month high of $85.84.

Pentair (NYSE:PNRGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, analysts predict that Pentair plc will post 4.24 EPS for the current year.

Pentair Announces Dividend

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. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Pentair’s dividend payout ratio (DPR) is currently 24.47%.

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 shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at approximately $3,254,534.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

About Pentair

(Free Report)

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.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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