Cerity Partners LLC Buys 18,196 Shares of Pentair plc (NYSE:PNR)

Cerity Partners LLC grew its stake in Pentair plc (NYSE:PNR) by 130.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,160 shares of the industrial products company’s stock after purchasing an additional 18,196 shares during the period. Cerity Partners LLC’s holdings in Pentair were worth $3,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNR. Blackhawk Capital Partners LLC. lifted its position in Pentair by 3.6% in the third quarter. Blackhawk Capital Partners LLC. now owns 5,382 shares of the industrial products company’s stock worth $526,000 after buying an additional 187 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Pentair by 2.8% in the 3rd quarter. Moors & Cabot Inc. now owns 10,875 shares of the industrial products company’s stock worth $1,063,000 after acquiring an additional 292 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Pentair by 69.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 25,002 shares of the industrial products company’s stock worth $2,445,000 after purchasing an additional 10,284 shares during the period. Avior Wealth Management LLC raised its position in Pentair by 3.8% in the 3rd quarter. Avior Wealth Management LLC now owns 9,163 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 332 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Pentair by 3.4% in the third quarter. PNC Financial Services Group Inc. now owns 38,620 shares of the industrial products company’s stock worth $3,777,000 after purchasing an additional 1,276 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Pentair Price Performance

Shares of PNR stock opened at $108.99 on Friday. The company has a market cap of $18.01 billion, a P/E ratio of 27.25, a PEG ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The stock’s 50-day moving average is $100.85 and its 200 day moving average is $89.03. Pentair plc has a 1-year low of $63.38 and a 1-year high of $110.71.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. Pentair’s payout ratio is 23.00%.

Analysts Set New Price Targets

PNR has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a report on Thursday, November 21st. Oppenheimer lifted their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

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.