Pentair plc (NYSE:PNR) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its stake in shares of Pentair plc (NYSE:PNR) by 27.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,336 shares of the industrial products company’s stock after acquiring an additional 290 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Pentair were worth $102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after buying an additional 128 shares during the last quarter. Fifth Third Bancorp raised its stake in Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 129 shares during the last quarter. Retirement Systems of Alabama lifted its position in Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in Pentair by 4.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 140 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Price Performance

Shares of Pentair stock opened at $97.53 on Friday. The stock has a market capitalization of $16.14 billion, a P/E ratio of 25.94, a PEG ratio of 1.73 and a beta of 1.20. The business has a 50 day simple moving average of $87.25 and a two-hundred day simple moving average of $82.80. Pentair plc has a 12 month low of $57.18 and a 12 month high of $98.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts predict that Pentair plc will post 4.25 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.94%. Pentair’s payout ratio is 24.47%.

Analyst Upgrades and Downgrades

PNR has been the subject of several research analyst reports. KeyCorp raised their price objective on Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Oppenheimer increased their price objective on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their price target on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.87.

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.