Inscription Capital LLC Makes New Investment in Pentair plc $PNR

Inscription Capital LLC purchased a new position in Pentair plc (NYSE:PNR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,968 shares of the industrial products company’s stock, valued at approximately $1,104,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Richardson Financial Services Inc. increased its holdings in Pentair by 64.9% during the 3rd quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Pentair by 105.4% during the second quarter. First Horizon Advisors Inc. now owns 345 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 177 shares during the last quarter. North Star Investment Management Corp. grew its stake in Pentair by 91.5% during the 2nd quarter. North Star Investment Management Corp. now owns 404 shares of the industrial products company’s stock worth $41,000 after buying an additional 193 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Pentair during the third quarter valued at $41,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Pentair during the second quarter worth about $45,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director T Michael Glenn sold 6,558 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $104.33, for a total transaction of $684,196.14. Following the completion of the sale, the director owned 31,192 shares in the company, valued at approximately $3,254,261.36. This represents a 17.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert P. Fishman sold 7,786 shares of Pentair stock in a transaction on Friday, November 14th. The stock was sold at an average price of $105.42, for a total value of $820,800.12. Following the completion of the transaction, the chief financial officer owned 63,164 shares in the company, valued at $6,658,748.88. The trade was a 10.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.45% of the stock is currently owned by corporate insiders.

Pentair Price Performance

NYSE:PNR opened at $104.35 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.46 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $104.63 and its 200 day moving average price is $106.55. Pentair plc has a 52-week low of $74.25 and a 52-week high of $113.95. The firm has a market cap of $17.08 billion, a P/E ratio of 26.48, a PEG ratio of 1.88 and a beta of 1.22.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.06. Pentair had a net margin of 15.84% and a return on equity of 21.83%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be issued a $0.27 dividend. This is an increase from Pentair’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, January 23rd. Pentair’s dividend payout ratio is currently 25.38%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wolfe Research restated an “outperform” rating and issued a $135.00 target price on shares of Pentair in a research report on Tuesday, December 9th. Cowen cut Pentair from a “buy” rating to a “market perform” rating in a research report on Monday, January 5th. Royal Bank Of Canada boosted their price target on Pentair from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Robert W. Baird set a $130.00 price target on Pentair in a report on Wednesday, October 22nd. Finally, UBS Group upped their price objective on shares of Pentair from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.75.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.