Pentair plc (NYSE:PNR) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC reduced its stake in shares of Pentair plc (NYSE:PNR) by 15.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 267,538 shares of the industrial products company’s stock after selling 50,581 shares during the quarter. Eventide Asset Management LLC’s holdings in Pentair were worth $26,163,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC increased its stake in Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the period. Millennium Management LLC increased its stake in Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after purchasing an additional 20,946 shares during the period. Dimensional Fund Advisors LP increased its stake in Pentair by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after purchasing an additional 53,787 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after purchasing an additional 996,325 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Pentair by 6.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after purchasing an additional 105,724 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Down 0.1 %

Shares of NYSE PNR opened at $108.96 on Friday. Pentair plc has a 12-month low of $63.09 and a 12-month high of $110.71. The company has a market capitalization of $18.00 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The firm’s 50-day moving average is $100.57 and its two-hundred day moving average is $88.85.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio is presently 23.00%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PNR. Stifel Nicolaus lifted their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wolfe Research began coverage on shares of Pentair in a report on Tuesday. They issued an “outperform” rating and a $125.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, UBS Group lifted their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and a consensus price target of $106.38.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s 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 owns 19,232 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Pentair 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.