Pentair plc (NYSE:PNR) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its position in shares of Pentair plc (NYSE:PNR) by 38.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,701 shares of the industrial products company’s stock after selling 1,710 shares during the period. SeaCrest Wealth Management LLC’s holdings in Pentair were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNR. Lindbrook Capital LLC increased its position in shares of Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Quent Capital LLC increased its position in shares of Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Pentair by 24.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 173 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Pentair during the fourth quarter worth about $69,000. Finally, Creative Financial Designs Inc. ADV increased its position in Pentair by 88.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,015 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 477 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Transactions at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the business’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 transaction of $2,089,884.15. Following the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at approximately $3,254,534.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Pentair Price Performance

Shares of PNR opened at $74.74 on Friday. Pentair plc has a twelve month low of $57.18 and a twelve month high of $85.84. The stock’s 50 day moving average is $79.89 and its two-hundred day moving average is $77.65. The firm has a market capitalization of $12.41 billion, a PE ratio of 19.88, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. Research analysts anticipate that Pentair plc will post 4.22 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is 24.47%.

Analyst Upgrades and Downgrades

PNR has been the topic of several recent research reports. BNP Paribas initiated coverage on Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price target on the stock. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Monday, April 15th. Stifel Nicolaus boosted their price target on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Citigroup boosted their price target on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Barclays boosted their price target on Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.71.

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.