Greenleaf Trust Has $383,000 Stock Holdings in Pentair plc (NYSE:PNR)

Greenleaf Trust lifted its position in Pentair plc (NYSE:PNR) by 10.2% during the 3rd quarter, Holdings Channel reports. The firm owned 3,919 shares of the industrial products company’s stock after buying an additional 364 shares during the quarter. Greenleaf Trust’s holdings in Pentair were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Pentair by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 451,655 shares of the industrial products company’s stock worth $38,589,000 after buying an additional 4,861 shares during the last quarter. Norden Group LLC acquired a new position in shares of Pentair in the 1st quarter worth approximately $1,103,000. First Trust Direct Indexing L.P. grew its position in Pentair by 4.1% during 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. Principal Financial Group Inc. increased its holdings in Pentair by 4.7% during the 1st quarter. Principal Financial Group Inc. now owns 197,478 shares of the industrial products company’s stock valued at $16,873,000 after purchasing an additional 8,808 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Pentair by 6.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 34,914 shares of the industrial products company’s stock valued at $2,983,000 after purchasing an additional 2,020 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNR shares. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. KeyCorp increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group increased their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Stock Performance

Shares of PNR stock opened at $98.96 on Friday. The stock has a market cap of $16.43 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. The stock has a 50-day moving average of $92.82 and a 200-day moving average of $84.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.96. Pentair plc has a one year low of $57.40 and a one year high of $101.00.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, sell-side analysts expect that Pentair plc will post 4.27 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is presently 24.47%.

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.