Retirement Systems of Alabama Has $3.54 Million Stake in Pentair plc (NYSE:PNR)

Retirement Systems of Alabama reduced its holdings in shares of Pentair plc (NYSE:PNR) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,186 shares of the industrial products company’s stock after selling 438 shares during the period. Retirement Systems of Alabama’s holdings in Pentair were worth $3,539,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PNR. Crewe Advisors LLC grew its stake in Pentair by 376.1% during the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Quarry LP boosted its holdings in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Pentair during the 2nd quarter worth approximately $48,000. Blue Trust Inc. increased its stake in shares of Pentair by 165.2% in 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. Finally, True Wealth Design LLC lifted its position in shares of Pentair by 4,450.0% during the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 623 shares during the period. 92.37% of the stock is owned by institutional investors.

Pentair Stock Performance

Shares of PNR stock opened at $100.98 on Friday. 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 has a 50-day moving average of $103.83 and a 200-day moving average of $91.42. Pentair plc has a one year low of $68.08 and a one year high of $110.71. The company has a market cap of $16.69 billion, a P/E ratio of 25.25, a P/E/G ratio of 1.91 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 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 firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts forecast that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a $0.25 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.00 annualized dividend and a yield of 0.99%. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is currently 23.00%.

Analyst Upgrades and Downgrades

PNR has been the subject of several research analyst reports. Mizuho lifted their price target on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group boosted their target price on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a report on Thursday, November 21st. Barclays boosted their price objective on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, TD Cowen increased their target price on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $109.38.

Insider Buying and Selling at Pentair

In other Pentair 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 value of $357,615.96. Following the sale, the executive vice president now 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 SEC, which is accessible through this link. Corporate insiders own 1.28% 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.