Glenmede Trust Co. NA Invests $666,000 in Pentair plc (NYSE:PNR)

Glenmede Trust Co. NA purchased a new position in Pentair plc (NYSE:PNR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,809 shares of the industrial products company’s stock, valued at approximately $666,000.

Other large investors have also recently modified their holdings of the company. Harbour Investments Inc. boosted its position in shares of Pentair by 10.7% in the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 636 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Pentair by 222.8% during the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after purchasing an additional 34,959 shares during the last quarter. Swedbank AB raised its position in Pentair by 0.9% in the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock worth $87,885,000 after acquiring an additional 10,000 shares during the period. ORG Partners LLC bought a new position in Pentair in the 2nd quarter worth $631,000. Finally, FMR LLC raised its stake in shares of Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after buying an additional 258,134 shares during the period. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PNR shares. The Goldman Sachs Group increased their target price on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Oppenheimer raised their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wolfe Research assumed coverage on Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price on the stock. TD Cowen raised their price target on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price objective on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.38.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.28% of the company’s stock.

Pentair Stock Performance

NYSE PNR opened at $108.82 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.94 and a beta of 1.20. Pentair plc has a twelve month low of $65.31 and a twelve month high of $110.71. The stock has a 50-day moving average of $101.11 and a 200 day moving average of $89.28.

Pentair (NYSE:PNR) last issued its earnings results 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 return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period last year, the company earned $0.94 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.85%. Pentair’s dividend payout ratio (DPR) is 23.00%.

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.