Pentair plc (NYSE:PNR) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of Pentair plc (NYSE:PNR) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,321 shares of the industrial products company’s stock after acquiring an additional 190 shares during the period. QRG Capital Management Inc.’s holdings in Pentair were worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PNR. Opal Wealth Advisors LLC acquired a new position in Pentair during the second quarter worth $25,000. Crewe Advisors LLC increased its position in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after buying an additional 267 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Pentair in the second quarter valued at $48,000. Blue Trust Inc. raised its stake in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Pentair in the 1st quarter worth about $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Up 1.4 %

Shares of PNR opened at $104.37 on Friday. Pentair plc has a fifty-two week low of $60.15 and a fifty-two week high of $107.32. The company’s fifty day moving average is $95.78 and its two-hundred day moving average is $86.34. The firm has a market cap of $17.25 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. 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 issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. Analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.88%. Pentair’s payout ratio is 23.00%.

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 completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PNR. Barclays raised their target price on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. TD Cowen increased their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Mizuho increased their price objective on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.80.

About Pentair

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.