CFS Investment Advisory Services LLC Cuts Stock Holdings in Pentair plc (NYSE:PNR)

CFS Investment Advisory Services LLC cut its stake in Pentair plc (NYSE:PNR) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,398 shares of the industrial products company’s stock after selling 233 shares during the period. CFS Investment Advisory Services LLC’s holdings in Pentair were worth $2,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNR. Millennium Management LLC increased its holdings 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 buying an additional 20,946 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after purchasing an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after purchasing an additional 996,325 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Pentair by 352.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after purchasing an additional 1,228,635 shares during the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Performance

Shares of PNR opened at $106.11 on Friday. The stock has a market capitalization of $17.53 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.87 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 1 year low of $62.33 and a 1 year high of $107.78. The company’s fifty day moving average is $99.07 and its two-hundred day moving average is $87.97.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. During the same period in the prior year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.23 dividend. 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 currently 23.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Mizuho raised their price target on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Insider Buying and Selling

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently 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.