Bessemer Group Inc. Sells 79,844 Shares of Pentair plc (NYSE:PNR)

Bessemer Group Inc. decreased its stake in shares of Pentair plc (NYSE:PNR) by 6.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,203,320 shares of the industrial products company’s stock after selling 79,844 shares during the quarter. Bessemer Group Inc.’s holdings in Pentair were worth $105,267,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Pentair by 2,487.1% during the first quarter. Spire Wealth Management now owns 16,428 shares of the industrial products company’s stock worth $1,437,000 after purchasing an additional 15,793 shares during the period. Lecap Asset Management Ltd. lifted its stake in Pentair by 18.5% in the 1st quarter. Lecap Asset Management Ltd. now owns 13,877 shares of the industrial products company’s stock valued at $1,214,000 after purchasing an additional 2,171 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Pentair during the 1st quarter valued at $240,000. Berry Wealth Group LP acquired a new stake in shares of Pentair during the first quarter valued at about $267,000. Finally, Asset Management One Co. Ltd. boosted its holdings in Pentair by 4.8% in the first quarter. Asset Management One Co. Ltd. now owns 75,337 shares of the industrial products company’s stock valued at $6,590,000 after acquiring an additional 3,476 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PNR shares. The Goldman Sachs Group set a $95.00 target price on Pentair and gave the stock a “neutral” rating in a report on Tuesday, April 22nd. Stifel Nicolaus decreased their target price on shares of Pentair from $125.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Robert W. Baird dropped their target price on shares of Pentair from $114.00 to $107.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $107.14.

Insider Buying and Selling at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the transaction, the director now owns 26,313 shares in the company, valued at $2,366,591.22. This trade represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Pentair Price Performance

Shares of NYSE:PNR opened at $101.13 on Thursday. The firm’s 50 day moving average price is $95.40 and its 200-day moving average price is $95.16. The stock has a market capitalization of $16.64 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. 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 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a net margin of 15.87% and a return on equity of 21.24%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.38 million. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities research analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, July 18th. Pentair’s payout ratio is currently 25.84%.

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.