Pacer Advisors Inc. Sells 959 Shares of Pentair plc (NYSE:PNR)

Pacer Advisors Inc. cut its holdings in Pentair plc (NYSE:PNR) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,110 shares of the industrial products company’s stock after selling 959 shares during the period. Pacer Advisors Inc.’s holdings in Pentair were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PNR. Opal Wealth Advisors LLC bought a new position in shares of Pentair in the 2nd quarter worth about $25,000. Crewe Advisors LLC raised its position in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 267 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Pentair in the 2nd quarter valued at about $48,000. LRI Investments LLC acquired a new stake in shares of Pentair in the 1st quarter valued at about $56,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Pentair in the 4th quarter valued at about $75,000. 92.37% of the stock is owned by institutional investors.

Pentair Price Performance

Shares of NYSE PNR opened at $97.02 on Friday. Pentair plc has a twelve month low of $57.18 and a twelve month high of $98.23. The stock’s 50 day moving average price is $87.61 and its 200-day moving average price is $82.91. The company has a market capitalization of $16.11 billion, a PE ratio of 25.80, a PEG ratio of 1.73 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Pentair plc will post 4.25 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PNR. Barclays raised their target price on Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Oppenheimer raised their target price on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. KeyCorp raised their target price on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 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.com, Pentair presently has an average rating of “Moderate Buy” and a consensus target price of $92.87.

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.