Mercer Global Advisors Inc. ADV Sells 527 Shares of Pentair plc (NYSE:PNR)

Mercer Global Advisors Inc. ADV lowered its holdings in Pentair plc (NYSE:PNR) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,845 shares of the industrial products company’s stock after selling 527 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Pentair were worth $832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Pentair during the fourth quarter worth about $9,177,000. Corient Private Wealth LLC grew its holdings in Pentair by 8.4% during the fourth quarter. Corient Private Wealth LLC now owns 19,381 shares of the industrial products company’s stock worth $1,409,000 after buying an additional 1,503 shares in the last quarter. Assetmark Inc. raised its position in Pentair by 515.7% in the 4th quarter. Assetmark Inc. now owns 2,358 shares of the industrial products company’s stock valued at $171,000 after buying an additional 1,975 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Pentair by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 50,947 shares of the industrial products company’s stock worth $3,704,000 after acquiring an additional 5,896 shares during the last quarter. Finally, Commerce Bank raised its holdings in shares of Pentair by 172.7% in the fourth quarter. Commerce Bank now owns 9,671 shares of the industrial products company’s stock valued at $703,000 after purchasing an additional 6,125 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

PNR has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. KeyCorp upped their price objective on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Oppenheimer boosted their target price on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.87.

Pentair Price Performance

PNR stock opened at $97.53 on Friday. The firm has a 50 day moving average of $87.25 and a 200-day moving average of $82.80. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $16.14 billion, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. Pentair plc has a 12 month low of $57.18 and a 12 month high of $98.23.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, sell-side analysts predict that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is 24.47%.

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.