CANADA LIFE ASSURANCE Co Cuts Stock Holdings in Pentair plc (NYSE:PNR)

CANADA LIFE ASSURANCE Co trimmed its position in shares of Pentair plc (NYSE:PNR) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,945 shares of the industrial products company’s stock after selling 3,159 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.06% of Pentair worth $8,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Pentair by 1.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,232 shares of the industrial products company’s stock worth $1,398,000 after purchasing an additional 351 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Pentair during the 4th quarter worth $106,000. Quent Capital LLC raised its stake in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares during the period. Blackhawk Capital Partners LLC. raised its stake in shares of Pentair by 3.8% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 9,498 shares of the industrial products company’s stock worth $691,000 after purchasing an additional 351 shares during the period. Finally, ERTS Wealth Advisors LLC bought a new stake in shares of Pentair during the 4th quarter worth $222,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays lifted their target price on Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday. Oppenheimer boosted their price objective on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.87.

Pentair Stock Up 2.7 %

Shares of NYSE PNR opened at $86.08 on Friday. Pentair plc has a 12 month low of $57.18 and a 12 month high of $88.47. The company has a current ratio of 1.65, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 1.44 and a beta of 1.21. The business has a 50-day moving average of $79.33 and a 200-day moving average of $78.56.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Pentair’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts expect that Pentair plc will post 4.3 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Insider Transactions at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Pentair Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.