First Citizens Bank & Trust Co. Increases Position in Pentair plc (NYSE:PNR)

First Citizens Bank & Trust Co. boosted its holdings in Pentair plc (NYSE:PNR) by 2.4% during the first quarter, Holdings Channel.com reports. The firm owned 31,170 shares of the industrial products company’s stock after acquiring an additional 734 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Pentair were worth $2,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wedmont Private Capital grew its holdings in Pentair by 5.9% in the first quarter. Wedmont Private Capital now owns 3,759 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 209 shares during the period. Piscataqua Savings Bank grew its holdings in Pentair by 1.9% in the first quarter. Piscataqua Savings Bank now owns 14,666 shares of the industrial products company’s stock worth $1,283,000 after purchasing an additional 274 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Pentair by 20.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,777 shares of the industrial products company’s stock worth $1,030,000 after purchasing an additional 2,023 shares during the period. Portside Wealth Group LLC grew its holdings in Pentair by 10.9% in the first quarter. Portside Wealth Group LLC now owns 3,273 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 322 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in Pentair by 7.8% in the first quarter. Contravisory Investment Management Inc. now owns 8,173 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 593 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Up 0.2%

Shares of Pentair stock opened at $99.70 on Tuesday. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company’s 50 day moving average is $91.10 and its 200 day moving average is $95.83. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Research analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 1.00%. Pentair’s payout ratio is presently 25.84%.

Insiders Place Their Bets

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total value of $589,826.52. Following the transaction, the director now directly owns 26,313 shares in the company, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

PNR has been the topic of a number of recent research reports. The Goldman Sachs Group set a $95.00 price objective on shares of Pentair and gave the stock a “neutral” rating in a report on Tuesday, April 22nd. Mizuho set a $100.00 target price on shares of Pentair in a research note on Tuesday, April 22nd. Baird R W upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 25th. Stifel Nicolaus dropped their target price on shares of Pentair from $125.00 to $102.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays upped their target price on shares of Pentair from $110.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $107.14.

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.