Park Avenue Securities LLC Has $1.37 Million Stock Holdings in Pentair plc (NYSE:PNR)

Park Avenue Securities LLC trimmed its position in shares of Pentair plc (NYSE:PNR) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,975 shares of the industrial products company’s stock after selling 2,003 shares during the quarter. Park Avenue Securities LLC’s holdings in Pentair were worth $1,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Pentair by 191.8% in the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock worth $5,122,000 after acquiring an additional 46,290 shares during the period. UBS Group AG lifted its stake in shares of Pentair by 5.2% in the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock worth $34,847,000 after acquiring an additional 23,494 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Pentair in the fourth quarter worth approximately $2,908,000. Point72 Europe London LLP bought a new stake in Pentair in the fourth quarter worth approximately $921,000. Finally, Kodai Capital Management LP bought a new stake in Pentair in the fourth quarter worth approximately $173,280,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.28% of the company’s stock.

Pentair Stock Up 0.7 %

Shares of NYSE:PNR opened at $80.00 on Tuesday. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 1.37 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. Pentair plc has a 12-month low of $57.18 and a 12-month high of $85.84. The business’s 50 day moving average is $80.52 and its 200 day moving average is $77.43.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Pentair plc will post 4.24 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. Shareholders of record on Friday, July 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a yield of 1.15%. Pentair’s dividend payout ratio is currently 24.47%.

Analyst Upgrades and Downgrades

PNR has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. UBS Group lifted their target price on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup lifted their target price on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday, April 15th. Finally, KeyCorp boosted their price objective on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus price target of $89.93.

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.