Metis Global Partners LLC Lowers Stock Position in Pentair plc (NYSE:PNR)

Metis Global Partners LLC lessened its stake in Pentair plc (NYSE:PNR) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,598 shares of the industrial products company’s stock after selling 120 shares during the period. Metis Global Partners LLC’s holdings in Pentair were worth $3,188,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 128 shares during the last quarter. Fifth Third Bancorp increased its position in Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares in the last quarter. Inspire Advisors LLC raised its stake in Pentair by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity

In other 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 transaction of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Pentair Stock Down 0.4 %

Shares of NYSE PNR opened at $105.86 on Friday. The stock has a fifty day moving average price of $97.29 and a 200 day moving average price of $87.07. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Pentair plc has a 12-month low of $62.04 and a 12-month high of $107.78. The company has a market cap of $17.49 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.90 and a beta of 1.19.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business 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 for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. Research analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date 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 currently 23.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PNR shares. TD Cowen upped their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Pentair from $106.00 to $110.00 and gave the stock 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 company. According to data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

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.