Allstate Corp Takes Position in Pentair plc $PNR

Allstate Corp purchased a new position in shares of Pentair plc (NYSE:PNR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,049 shares of the industrial products company’s stock, valued at approximately $670,000.

Other hedge funds also recently added to or reduced their stakes in the company. 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 period. First Horizon Advisors Inc. grew its position in shares of Pentair by 105.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 345 shares of the industrial products company’s stock worth $35,000 after buying an additional 177 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Pentair by 91.5% during the second quarter. North Star Investment Management Corp. now owns 404 shares of the industrial products company’s stock valued at $41,000 after buying an additional 193 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Pentair in the second quarter valued at about $45,000. Finally, CoreCap Advisors LLC lifted 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 worth $45,000 after acquiring an additional 150 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Up 0.9%

Pentair stock opened at $108.13 on Friday. The business’s 50-day simple moving average is $104.63 and its two-hundred day simple moving average is $106.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 1.46. The company has a market cap of $17.69 billion, a PE ratio of 27.44, a PEG ratio of 1.88 and a beta of 1.22. Pentair plc has a fifty-two week low of $74.25 and a fifty-two week high of $113.95.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 21st. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.06. Pentair had a return on equity of 21.83% and a net margin of 15.84%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, January 23rd. This is a positive change from Pentair’s previous quarterly dividend of $0.25. Pentair’s dividend payout ratio (DPR) is presently 25.38%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PNR. TD Cowen downgraded shares of Pentair from a “buy” rating to a “market perform” rating in a research report on Monday, January 5th. BNP Paribas Exane lowered shares of Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 price objective on the stock. in a report on Wednesday, January 7th. Wall Street Zen raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Robert W. Baird set a $130.00 target price on Pentair in a research report on Wednesday, October 22nd. Finally, Citigroup cut their price target on Pentair from $135.00 to $126.00 and set a “buy” rating on the stock in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Insider Buying and Selling at Pentair

In other news, CFO Robert P. Fishman sold 7,786 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $105.42, for a total value of $820,800.12. Following the sale, the chief financial officer owned 63,164 shares in the company, valued at $6,658,748.88. This represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director T Michael Glenn sold 6,558 shares of the firm’s 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 transaction, the director directly owned 31,192 shares of the company’s stock, valued at approximately $3,254,261.36. This trade represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by corporate insiders.

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.