Uncommon Cents Investing LLC Has $2.83 Million Position in Pentair plc (NYSE:PNR)

Uncommon Cents Investing LLC cut its position in Pentair plc (NYSE:PNR) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,308 shares of the industrial products company’s stock after selling 890 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Pentair were worth $2,826,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new position in Pentair in the 1st quarter valued at approximately $231,000. Oppenheimer & Co. Inc. increased its position in Pentair by 1.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 44,713 shares of the industrial products company’s stock valued at $3,911,000 after acquiring an additional 554 shares during the period. Abundance Wealth Counselors bought a new position in shares of Pentair during the first quarter valued at $625,000. Global X Japan Co. Ltd. raised its stake in shares of Pentair by 12.3% during the first quarter. Global X Japan Co. Ltd. now owns 5,878 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 644 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Pentair by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 19,345 shares of the industrial products company’s stock worth $1,692,000 after purchasing an additional 500 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction 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 completion of the sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group decreased their price objective on Pentair from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded 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 research report on Friday, May 16th. Barclays increased their price target on Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus reduced their target price on Pentair from $125.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $107.14.

Pentair Stock Up 0.3%

Shares of NYSE PNR opened at $97.19 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 0.51. The firm has a market cap of $15.99 billion, a PE ratio of 25.11, a P/E/G ratio of 1.86 and a beta of 1.10. The company’s fifty day simple moving average is $94.27 and its 200 day simple moving average is $95.14. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $988.38 million. Pentair had a net margin of 15.87% and a return on equity of 21.24%. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued 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 1.03%. Pentair’s payout ratio is currently 25.84%.

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.