Pentair plc (NYSE:PNR) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its position in Pentair plc (NYSE:PNR) by 116.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 22,793 shares of the industrial products company’s stock after acquiring an additional 12,246 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Pentair were worth $2,294,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Quarry LP lifted its position in Pentair by 105.5% during 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 holdings in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 327 shares in the last quarter. Eastern Bank boosted its position in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares during the period. Friedenthal Financial purchased a new position in Pentair in the fourth quarter valued at about $56,000. Finally, True Wealth Design LLC lifted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Oppenheimer raised their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. UBS Group raised their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Mizuho raised their target price on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price target on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and a consensus price target of $111.07.

Pentair Trading Down 1.3 %

Shares of NYSE:PNR opened at $103.02 on Monday. 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 company’s 50-day moving average price is $104.11 and its 200 day moving average price is $96.02. The company has a market cap of $17.02 billion, a PE ratio of 25.75, a P/E/G ratio of 1.67 and a beta of 1.21. Pentair plc has a fifty-two week low of $70.98 and a fifty-two week high of $110.71.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, January 24th. Pentair’s dividend payout ratio (DPR) is 25.00%.

Insider Activity at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

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.