OneAscent Wealth Management LLC Lowers Holdings in Pentair plc (NYSE:PNR)

OneAscent Wealth Management LLC reduced its stake in shares of Pentair plc (NYSE:PNR) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,602 shares of the industrial products company’s stock after selling 202 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Pentair were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Swiss National Bank boosted its stake in Pentair by 0.7% during the third quarter. Swiss National Bank now owns 492,787 shares of the industrial products company’s stock valued at $48,190,000 after buying an additional 3,300 shares during the last quarter. Claro Advisors LLC bought a new position in shares of Pentair during the 3rd quarter valued at approximately $249,000. Natixis Advisors LLC boosted its position in shares of Pentair by 4.1% during the 3rd quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company’s stock valued at $10,083,000 after acquiring an additional 4,074 shares during the last quarter. Mizuho Securities USA LLC increased its position in Pentair by 596.1% in the third quarter. Mizuho Securities USA LLC now owns 89,069 shares of the industrial products company’s stock worth $8,710,000 after purchasing an additional 76,273 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Pentair by 9.3% during the third quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company’s stock valued at $1,890,000 after purchasing an additional 1,640 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho lifted their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, UBS Group raised their price target on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.13.

Pentair Stock Down 0.0 %

PNR stock opened at $105.87 on Tuesday. The stock has a market capitalization of $17.49 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. Pentair plc has a 52 week low of $62.04 and a 52 week high of $107.78. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $98.09 and a 200 day moving average of $87.55.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.87%. Pentair’s payout ratio is 23.00%.

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.