Victory Capital Management Inc. Has $42.72 Million Stock Holdings in Pentair plc (NYSE:PNR)

Victory Capital Management Inc. cut its position in shares of Pentair plc (NYSE:PNR) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 436,865 shares of the industrial products company’s stock after selling 26,705 shares during the quarter. Victory Capital Management Inc.’s holdings in Pentair were worth $42,721,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PNR. Opal Wealth Advisors LLC acquired a new stake in Pentair during the second quarter worth about $25,000. Crewe Advisors LLC lifted its stake in Pentair by 376.1% during the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. bought a new position in Pentair during the second quarter worth about $48,000. Blue Trust Inc. lifted its stake in Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares during the period. Finally, LRI Investments LLC bought a new position in Pentair during the first quarter worth about $56,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen raised their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho raised their price target on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

Pentair Price Performance

PNR opened at $105.92 on Friday. The company has a fifty day moving average price of $97.70 and a two-hundred day moving average price of $87.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 52 week low of $62.04 and a 52 week high of $107.78. The firm has a market capitalization of $17.50 billion, a PE ratio of 26.48, a P/E/G ratio of 1.90 and a beta of 1.19.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same quarter in the previous year, the business earned $0.94 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio is presently 23.00%.

About Pentair

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.