Cary Street Partners Financial LLC Invests $278,000 in Pentair plc (NYSE:PNR)

Cary Street Partners Financial LLC bought a new position in shares of Pentair plc (NYSE:PNR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,761 shares of the industrial products company’s stock, valued at approximately $278,000.

Several other large investors have also recently bought and sold shares of PNR. Independent Advisor Alliance raised its position in Pentair by 1.4% during the fourth quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company’s stock worth $768,000 after acquiring an additional 103 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Pentair by 11.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 118 shares during the period. Richardson Financial Services Inc. raised its position in shares of Pentair by 16.1% in the fourth quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 127 shares during the period. Annex Advisory Services LLC lifted its position in Pentair by 2.9% during the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 151 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Pentair by 1.3% in the 4th quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company’s stock valued at $1,251,000 after purchasing an additional 161 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the company a “neutral” rating in a report on Tuesday, April 22nd. 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. Mizuho set a $100.00 price target on shares of Pentair in a report on Tuesday, April 22nd. Finally, Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.93.

Pentair Price Performance

PNR opened at $93.52 on Friday. The stock’s 50 day moving average price is $86.52 and its 200-day moving average price is $96.45. The stock has a market capitalization of $15.39 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations 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 company earned $0.94 earnings per share. On average, equities research analysts predict that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. Pentair’s dividend payout ratio is presently 25.84%.

Insider Buying and Selling at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction that occurred on 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 owns 26,313 shares of the company’s stock, valued at $2,366,591.22. The trade was a 19.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.