Truist Financial Corp Has $6.49 Million Position in Pentair plc $PNR

Truist Financial Corp lifted its position in Pentair plc (NYSE:PNR) by 287.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,548 shares of the industrial products company’s stock after acquiring an additional 43,433 shares during the period. Truist Financial Corp’s holdings in Pentair were worth $6,485,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its position in shares of Pentair by 64.9% during the third 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 in the last quarter. First Horizon Advisors Inc. increased its position in shares of Pentair by 105.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 345 shares of the industrial products company’s stock valued at $35,000 after buying an additional 177 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Pentair during the 3rd quarter worth $41,000. CYBER HORNET ETFs LLC bought a new position in Pentair during the second quarter worth about $45,000. Finally, CoreCap Advisors LLC grew its stake in Pentair by 58.8% in the third quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 150 shares during the period. Institutional investors own 92.37% of the company’s stock.

Insider Activity

In other news, CFO Robert P. Fishman sold 7,786 shares of the firm’s stock in a transaction dated 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. This trade represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director T Michael Glenn sold 6,558 shares of Pentair stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $104.33, for a total value of $684,196.14. Following the completion of the sale, the director directly owned 31,192 shares in the company, valued at approximately $3,254,261.36. This represents a 17.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

PNR has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Pentair in a research report on Thursday, January 22nd. UBS Group increased their target price on Pentair from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. BNP Paribas Exane lowered shares of Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 price target on the stock. in a research note on Wednesday, January 7th. Robert W. Baird set a $130.00 price target on shares of Pentair in a report on Wednesday, October 22nd. Finally, Citigroup dropped their price objective on shares of Pentair from $135.00 to $126.00 and set a “buy” rating on the stock in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Pentair Price Performance

Shares of PNR opened at $105.64 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.46 and a debt-to-equity ratio of 0.42. Pentair plc has a twelve month low of $74.25 and a twelve month high of $113.95. The stock has a market capitalization of $17.29 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.85 and a beta of 1.22. The company has a 50 day moving average of $105.11 and a 200-day moving average of $106.58.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, January 23rd. This is an increase from Pentair’s previous quarterly dividend of $0.25. Pentair’s dividend payout ratio (DPR) is presently 27.41%.

Pentair Company Profile

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.