Moody National Bank Trust Division Purchases Shares of 9,825 Pentair plc (NYSE:PNR)

Moody National Bank Trust Division purchased a new position in shares of Pentair plc (NYSE:PNR) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,825 shares of the industrial products company’s stock, valued at approximately $989,000.

Several other hedge funds have also recently made changes to their positions in PNR. Acadian Asset Management LLC acquired a new stake in Pentair during the second quarter worth approximately $447,000. American Century Companies Inc. grew its position in shares of Pentair by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 15,720 shares of the industrial products company’s stock worth $1,205,000 after buying an additional 2,164 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Pentair by 5.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 279,206 shares of the industrial products company’s stock valued at $21,407,000 after acquiring an additional 14,937 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Pentair by 1,217.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 975 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 901 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares during the period. 92.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PNR. Stifel Nicolaus lifted their price target on shares of Pentair from $115.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $111.13.

Pentair Stock Performance

PNR stock opened at $98.72 on Tuesday. The business has a 50 day moving average of $104.38 and a 200-day moving average of $94.09. The firm has a market cap of $16.31 billion, a PE ratio of 24.68, a P/E/G ratio of 1.91 and a beta of 1.21. Pentair plc has a 12-month low of $69.42 and a 12-month high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last announced its earnings results 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. The firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. As a group, sell-side analysts expect that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This is an increase from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, January 24th. Pentair’s dividend payout ratio is currently 25.00%.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Pentair Company 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.