Everence Capital Management Inc. Buys Shares of 4,250 Pentair plc (NYSE:PNR)

Everence Capital Management Inc. purchased a new position in shares of Pentair plc (NYSE:PNR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,250 shares of the industrial products company’s stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the period. FMR LLC lifted its stake in Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after buying an additional 19,853 shares during the period. Millennium Management LLC grew its stake in shares of Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after buying an additional 20,946 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Pentair by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after buying an additional 53,787 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Buying and Selling

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Pentair Stock Up 0.7 %

Shares of NYSE PNR opened at $101.06 on Monday. The stock has a market cap of $16.70 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. Pentair plc has a 52-week low of $68.08 and a 52-week high of $110.71. The business has a 50-day moving average price of $104.41 and a 200 day moving average price of $93.34. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last announced 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 net margin of 16.29% and a return on equity of 20.48%. The business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same period last year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.25 per share. This is an increase from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. Pentair’s dividend payout ratio is 25.00%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNR shares. TD Cowen boosted their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Finally, Citigroup boosted their target price on Pentair from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

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.