Pentair plc (NYSE:PNR) Shares Sold by ORG Wealth Partners LLC

ORG Wealth Partners LLC cut its holdings in shares of Pentair plc (NYSE:PNR) by 43.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,162 shares of the industrial products company’s stock after selling 3,243 shares during the period. ORG Wealth Partners LLC’s holdings in Pentair were worth $366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in shares of Pentair during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Pentair during the first quarter worth approximately $28,000. Colonial Trust Co SC raised its holdings in Pentair by 230.8% during the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 240 shares in the last quarter. NBC Securities Inc. bought a new stake in Pentair during the first quarter worth approximately $33,000. Finally, Versant Capital Management Inc raised its holdings in Pentair by 128.4% during the first quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 285 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Trading Up 0.6%

Shares of NYSE:PNR opened at $96.83 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The firm has a fifty day moving average price of $93.65 and a 200 day moving average price of $95.48. The stock has a market capitalization of $15.93 billion, a PE ratio of 25.02, a P/E/G ratio of 1.84 and a beta of 1.10.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 21.24% and a net margin of 15.87%. During the same period last year, the business posted $0.94 earnings per share. Analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, July 18th. Pentair’s dividend payout ratio is currently 25.84%.

Insider Activity

In other news, Director David A. /Wi Jones sold 6,558 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the sale, the director now directly owns 26,313 shares of the company’s stock, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PNR shares. Robert W. Baird dropped their price target on Pentair from $114.00 to $107.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. UBS Group dropped their price target on Pentair from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised Pentair from a “neutral” rating to an “overweight” rating and upped their price target for the company from $90.00 to $113.00 in a report on Friday, May 16th. The Goldman Sachs Group set a $95.00 price target on Pentair and gave the company a “neutral” rating in a report on Tuesday, April 22nd. Finally, Barclays upped their price target on Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $107.14.

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.