OneAscent Financial Services LLC Sells 181 Shares of Pentair plc (NYSE:PNR)

OneAscent Financial Services LLC cut its position in Pentair plc (NYSE:PNR) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,642 shares of the industrial products company’s stock after selling 181 shares during the quarter. OneAscent Financial Services LLC’s holdings in Pentair were worth $397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC grew its stake in Pentair by 5.8% in the 3rd quarter. LPL Financial LLC now owns 60,869 shares of the industrial products company’s stock valued at $3,941,000 after buying an additional 3,346 shares during the last quarter. Mariner LLC increased its stake in shares of Pentair by 2.5% during the third quarter. Mariner LLC now owns 33,261 shares of the industrial products company’s stock worth $2,154,000 after purchasing an additional 816 shares during the period. Natixis Advisors L.P. lifted its holdings in Pentair by 38.6% during the 3rd quarter. Natixis Advisors L.P. now owns 40,189 shares of the industrial products company’s stock worth $2,602,000 after purchasing an additional 11,203 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Pentair in the 3rd quarter valued at $257,000. Finally, Mutual Advisors LLC acquired a new position in Pentair in the 3rd quarter valued at $233,000. 92.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PNR shares. BNP Paribas assumed coverage on shares of Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price for the company. TD Cowen increased their price target on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Citigroup lifted their price objective on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Oppenheimer upped their target price on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Mizuho raised their price target on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.71.

Pentair Price Performance

PNR traded up $0.62 on Friday, reaching $76.67. The stock had a trading volume of 2,499,510 shares, compared to its average volume of 1,647,079. The firm has a 50-day moving average of $80.24 and a 200-day moving average of $77.52. Pentair plc has a fifty-two week low of $57.18 and a fifty-two week high of $85.84. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.31 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.91 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pentair plc will post 4.22 EPS for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s dividend payout ratio is currently 24.47%.

Pentair Company 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.