Crossmark Global Holdings Inc. Sells 510 Shares of Pentair plc (NYSE:PNR)

Crossmark Global Holdings Inc. cut its holdings in shares of Pentair plc (NYSE:PNR) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,029 shares of the industrial products company’s stock after selling 510 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Pentair were worth $785,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in Pentair by 1.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 121 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Pentair by 3.9% during the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after buying an additional 129 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Pentair by 1.6% in the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after buying an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after buying an additional 139 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Trading Up 0.1 %

PNR stock opened at $105.92 on Friday. The company’s 50-day simple moving average is $97.70 and its 200 day simple moving average is $87.25. Pentair plc has a 52 week low of $62.04 and a 52 week high of $107.78. The company has a market capitalization of $17.50 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last issued its quarterly 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. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. As a group, sell-side analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.87%. Pentair’s dividend payout ratio is 23.00%.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was 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. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PNR. Stifel Nicolaus increased their price target on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. KeyCorp lifted their price target on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Oppenheimer upped their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Cowen lifted their target price on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their target price on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Pentair has a consensus rating of “Moderate Buy” and an average price target of $105.13.

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.