Clarus Wealth Advisors Invests $200,000 in Pentair plc (NYSE:PNR)

Clarus Wealth Advisors bought a new stake in Pentair plc (NYSE:PNR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,031 shares of the industrial products company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNR. Quarry LP grew its stake in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after buying an additional 134 shares in the last quarter. Blue Trust Inc. lifted its stake in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares in the last quarter. Eastern Bank boosted its holdings in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 300 shares during the period. Friedenthal Financial purchased a new stake in Pentair during the fourth quarter worth about $56,000. Finally, True Wealth Design LLC increased its stake in Pentair by 4,450.0% during the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 623 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

PNR has been the subject of several recent research reports. Barclays raised their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho raised their price target on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their price objective on Pentair from $115.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Finally, TD Cowen boosted their target price on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.13.

Pentair Stock Up 1.6 %

PNR stock opened at $100.22 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $104.32 and its two-hundred day moving average is $94.41. The stock has a market cap of $16.56 billion, a P/E ratio of 25.06, a PEG ratio of 1.91 and a beta of 1.21. Pentair plc has a twelve month low of $69.42 and a twelve month high of $110.71.

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

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is presently 25.00%.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by 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.