Mercer Capital Advisers Inc. grew its holdings in shares of Pentair PLC (NYSE:PNR) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,515 shares of the industrial products company’s stock after buying an additional 1,805 shares during the period. Mercer Capital Advisers Inc.’s holdings in Pentair were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PNR. Private Capital Group LLC raised its holdings in shares of Pentair by 445.0% during the second quarter. Private Capital Group LLC now owns 594 shares of the industrial products company’s stock valued at $25,000 after buying an additional 485 shares during the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Pentair during the third quarter valued at approximately $26,000. HM Payson & Co. bought a new stake in shares of Pentair during the second quarter valued at approximately $28,000. AdvisorNet Financial Inc raised its holdings in shares of Pentair by 35.6% during the third quarter. AdvisorNet Financial Inc now owns 990 shares of the industrial products company’s stock valued at $37,000 after buying an additional 260 shares during the last quarter. Finally, Covington Capital Management raised its holdings in shares of Pentair by 25.0% during the third quarter. Covington Capital Management now owns 1,250 shares of the industrial products company’s stock valued at $47,000 after buying an additional 250 shares during the last quarter. 84.49% of the stock is currently owned by institutional investors.
Shares of NYSE PNR traded down $0.74 during mid-day trading on Friday, reaching $46.04. 25,138 shares of the company traded hands, compared to its average volume of 735,220. Pentair PLC has a fifty-two week low of $34.50 and a fifty-two week high of $47.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a market cap of $7.81 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 3.20 and a beta of 1.23. The stock has a fifty day simple moving average of $45.81 and a 200-day simple moving average of $40.55.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a $0.19 dividend. This is a positive change from Pentair’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $0.76 annualized dividend and a yield of 1.65%. Pentair’s payout ratio is 30.64%.
A number of research firms recently commented on PNR. Zacks Investment Research upgraded shares of Pentair from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a research note on Friday, October 25th. Stifel Nicolaus lowered shares of Pentair from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research note on Tuesday, December 17th. Rosenblatt Securities began coverage on shares of Pentair in a research note on Thursday, January 16th. They set a “buy” rating and a $54.00 price objective on the stock. Goldman Sachs Group upgraded shares of Pentair from a “neutral” rating to a “buy” rating and raised their price objective for the company from $42.00 to $54.00 in a research note on Wednesday, January 15th. Finally, Citigroup began coverage on shares of Pentair in a research note on Tuesday, December 17th. They set a “neutral” rating and a $50.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.20.
In other Pentair news, Director T Michael Glenn sold 6,116 shares of Pentair stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $44.23, for a total value of $270,510.68. Following the transaction, the director now owns 24,702 shares in the company, valued at $1,092,569.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 18,348 shares of company stock worth $791,043. 0.80% of the stock is currently owned by company insiders.
Pentair Company Profile
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.
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