Mercer Capital Advisers Inc. lifted its holdings in Pentair PLC (NYSE:PNR) by 16.9% in the 4th quarter, Holdings Channel reports. The firm owned 12,515 shares of the industrial products company’s stock after buying an additional 1,805 shares during the quarter. Mercer Capital Advisers Inc.’s holdings in Pentair were worth $574,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Covington Capital Management raised its holdings in Pentair by 25.0% in the 3rd quarter. Covington Capital Management now owns 1,250 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 250 shares during the period. AdvisorNet Financial Inc raised its holdings in Pentair by 35.6% in the 3rd quarter. AdvisorNet Financial Inc now owns 990 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 260 shares during the period. Stephens Inc. AR raised its holdings in Pentair by 2.5% in the 3rd quarter. Stephens Inc. AR now owns 11,422 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 281 shares during the period. CSat Investment Advisory L.P. raised its holdings in Pentair by 41.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,497 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 442 shares during the period. Finally, Private Capital Group LLC raised its holdings in Pentair by 445.0% in the 2nd quarter. Private Capital Group LLC now owns 594 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 485 shares during the period. 84.49% of the stock is owned by institutional investors and hedge funds.
In other news, Director David A. /Wi Jones sold 6,116 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $43.11, for a total transaction of $263,660.76. Following the transaction, the director now owns 19,310 shares in the company, valued at approximately $832,454.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 18,348 shares of company stock worth $791,043. Insiders own 0.80% of the company’s stock.
Pentair (NYSE:PNR) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. Pentair had a net margin of 11.92% and a return on equity of 21.35%. The company had revenue of $713.60 million for the quarter, compared to the consensus estimate of $719.07 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue was up .3% compared to the same quarter last year. Research analysts predict that Pentair PLC will post 2.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.19 per share. This is an increase from Pentair’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $0.76 annualized dividend and a dividend yield of 1.65%. Pentair’s payout ratio is presently 30.64%.
Several research analysts recently commented on the stock. Goldman Sachs Group upgraded shares of Pentair from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $54.00 in a report on Wednesday, January 15th. Zacks Investment Research upgraded shares of Pentair from a “sell” rating to a “hold” rating and set a $44.00 target price on the stock in a report on Friday, October 25th. Citigroup assumed coverage on shares of Pentair in a report on Tuesday, December 17th. They issued a “neutral” rating and a $50.00 target price on the stock. Rosenblatt Securities assumed coverage on shares of Pentair in a report on Thursday, January 16th. They issued a “buy” rating and a $54.00 target price on the stock. Finally, Morgan Stanley set a $43.00 target price on shares of Pentair and gave the stock a “hold” rating in a report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Pentair presently has an average rating of “Hold” and an average target price of $47.20.
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.
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