Moors & Cabot Inc. Purchases 292 Shares of Pentair plc (NYSE:PNR)

Moors & Cabot Inc. raised its stake in shares of Pentair plc (NYSE:PNR) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,875 shares of the industrial products company’s stock after buying an additional 292 shares during the quarter. Moors & Cabot Inc.’s holdings in Pentair were worth $1,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PNR. Opal Wealth Advisors LLC purchased a new stake in shares of Pentair in the second quarter worth $25,000. Crewe Advisors LLC increased its holdings in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 267 shares during the period. Blue Trust Inc. lifted its position in Pentair by 165.2% during the third 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 during the last quarter. Family Firm Inc. acquired a new stake in Pentair in the second quarter worth about $48,000. Finally, LRI Investments LLC acquired a new position in shares of Pentair in the first quarter valued at about $56,000. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PNR. Oppenheimer increased their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays upped their price objective on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price objective on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.13.

Pentair Stock Performance

NYSE PNR opened at $106.11 on Friday. 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 firm has a market cap of $17.53 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.87 and a beta of 1.19. The company has a 50 day moving average of $99.07 and a 200-day moving average of $87.97. Pentair plc has a 1-year low of $62.33 and a 1-year high of $107.78.

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

Pentair Dividend Announcement

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

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

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.