B. Riley Wealth Advisors Inc. Buys 5,841 Shares of Pentair plc (NYSE:PNR)

B. Riley Wealth Advisors Inc. boosted its stake in Pentair plc (NYSE:PNR) by 90.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,319 shares of the industrial products company’s stock after acquiring an additional 5,841 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Pentair were worth $945,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares during the period. Wedmont Private Capital raised its stake in shares of Pentair by 3.9% in the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after buying an additional 128 shares during the period. Fifth Third Bancorp lifted its position in shares of Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after buying an additional 129 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. increased its holdings in Pentair by 4.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 140 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Performance

NYSE:PNR opened at $95.88 on Friday. The stock has a market cap of $15.87 billion, a P/E ratio of 25.50, a PEG ratio of 1.75 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. The business’s 50-day moving average price is $88.58 and its two-hundred day moving average price is $83.33. Pentair plc has a twelve month low of $57.18 and a twelve month high of $98.23.

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, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $1.03 earnings per share. Pentair’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Pentair plc will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.96%. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PNR. Barclays increased their target price on shares of Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday. Oppenheimer raised their price objective on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus boosted their target price on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.47.

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.