Benjamin Edwards Inc. Makes New Investment in Pentair plc (NYSE:PNR)

Benjamin Edwards Inc. bought a new position in shares of Pentair plc (NYSE:PNR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 4,464 shares of the industrial products company’s stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PNR. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Pentair by 381.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,225 shares of the industrial products company’s stock worth $413,000 after buying an additional 3,348 shares in the last quarter. True Wealth Design LLC boosted its position in Pentair by 4,450.0% during the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 623 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Pentair in the third quarter valued at $3,525,000. Verition Fund Management LLC purchased a new position in shares of Pentair in the third quarter valued at $14,650,000. Finally, Captrust Financial Advisors boosted its position in shares of Pentair by 8.8% in the 3rd quarter. Captrust Financial Advisors now owns 38,609 shares of the industrial products company’s stock worth $3,776,000 after buying an additional 3,129 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PNR shares. TD Cowen lifted their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.13.

Pentair Stock Up 0.0 %

PNR opened at $108.11 on Monday. Pentair plc has a 1 year low of $66.18 and a 1 year high of $110.71. The firm has a 50 day moving average price of $102.04 and a 200 day moving average price of $89.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The company has a market cap of $17.86 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.94 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect 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. Stockholders of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.85%. Pentair’s dividend payout ratio is currently 23.00%.

Insider Activity

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 transaction of $357,615.96. Following 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 15.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.