Kentucky Retirement Systems Insurance Trust Fund Has $479,000 Position in Pentair plc (NYSE:PNR)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Pentair plc (NYSE:PNR) by 8.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,900 shares of the industrial products company’s stock after selling 455 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Pentair were worth $479,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. lifted its stake in shares of Pentair by 10.7% during the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 636 shares during the period. Cetera Investment Advisers boosted its stake in Pentair by 222.8% in the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after acquiring an additional 34,959 shares during the last quarter. Swedbank AB grew its holdings in Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock worth $87,885,000 after acquiring an additional 10,000 shares during the period. ORG Partners LLC acquired a new position in shares of Pentair in the 2nd quarter valued at $631,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Pentair in the 1st quarter worth $1,487,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Trading Down 0.0 %

NYSE PNR opened at $105.87 on Tuesday. Pentair plc has a 12 month low of $62.04 and a 12 month high of $107.78. 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 stock has a 50 day moving average of $98.09 and a 200-day moving average of $87.55. The company has a market cap of $17.49 billion, a PE ratio of 26.47, a PEG ratio of 1.89 and a beta of 1.19.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. 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 company posted $0.94 earnings per share. On average, equities research analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Insider Buying and Selling at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp boosted their target price on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research 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 report on Wednesday, October 23rd. Finally, TD Cowen raised their price objective on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.13.

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.