Stifel Financial Corp Sells 2,740 Shares of Pentair plc (NYSE:PNR)

Stifel Financial Corp trimmed its holdings in Pentair plc (NYSE:PNR) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 184,639 shares of the industrial products company’s stock after selling 2,740 shares during the period. Stifel Financial Corp’s holdings in Pentair were worth $18,056,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PNR. Crewe Advisors LLC grew its stake in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 267 shares during the period. Quarry LP boosted its holdings in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. Family Firm Inc. bought a new stake in Pentair in the 2nd quarter worth approximately $48,000. Blue Trust Inc. raised its stake in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after buying an additional 327 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Pentair by 4,450.0% during the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock valued at $62,000 after buying an additional 623 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Transactions at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PNR. KeyCorp lifted their price objective on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen upped their price target on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Mizuho raised their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group upped their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer lifted 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, November 13th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.69.

Pentair Stock Performance

NYSE:PNR opened at $108.25 on Tuesday. The stock has a 50-day moving average price of $102.24 and a 200 day moving average price of $90.14. The stock has a market capitalization of $17.89 billion, a P/E ratio of 27.06, a P/E/G ratio of 1.93 and a beta of 1.20. Pentair plc has a 12-month low of $66.77 and a 12-month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $988.53 million. During the same quarter last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.85%. Pentair’s payout ratio is 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.