6,067 Shares in Pentair plc $PNR Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors bought a new stake in Pentair plc (NYSE:PNR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,067 shares of the industrial products company’s stock, valued at approximately $672,000.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in shares of Pentair by 173.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,837,753 shares of the industrial products company’s stock valued at $311,046,000 after buying an additional 1,800,669 shares during the period. Valeo Financial Advisors LLC acquired a new position in Pentair in the second quarter valued at about $102,945,000. Panagora Asset Management Inc. increased its holdings in shares of Pentair by 77.4% in the second quarter. Panagora Asset Management Inc. now owns 1,179,687 shares of the industrial products company’s stock worth $121,107,000 after acquiring an additional 514,571 shares in the last quarter. State Street Corp raised its position in shares of Pentair by 5.9% during the second quarter. State Street Corp now owns 8,970,940 shares of the industrial products company’s stock worth $920,957,000 after purchasing an additional 501,506 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Pentair by 3,428.7% during the 3rd quarter. Pacer Advisors Inc. now owns 512,402 shares of the industrial products company’s stock valued at $56,754,000 after purchasing an additional 497,881 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BNP Paribas Exane cut Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 target price for the company. in a research note on Wednesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Pentair from $132.00 to $124.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Jefferies Financial Group upgraded shares of Pentair from a “hold” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $135.00 in a report on Wednesday, December 10th. Wolfe Research reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Pentair in a research report on Tuesday, December 9th. Finally, Citigroup lowered their target price on Pentair from $135.00 to $126.00 and set a “buy” rating for the company in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Pentair Stock Performance

PNR opened at $107.65 on Monday. The business’s 50-day simple moving average is $104.70 and its 200 day simple moving average is $106.59. Pentair plc has a 52-week low of $74.25 and a 52-week high of $113.95. 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 firm has a market capitalization of $17.62 billion, a PE ratio of 27.32, a PEG ratio of 1.89 and a beta of 1.22.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be paid a $0.27 dividend. This is a boost 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 (DPR) is 27.41%.

Insiders Place Their Bets

In other Pentair news, CFO Robert P. Fishman sold 7,786 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $105.42, for a total transaction of $820,800.12. Following the sale, the chief financial officer directly owned 63,164 shares of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. Also, Director T Michael Glenn sold 6,558 shares of the stock in a transaction on Monday, December 1st. The shares were 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 of the company’s stock, 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. 1.45% of the stock is currently owned by insiders.

Pentair 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.