Polar Asset Management Partners Inc. Sells 155,100 Shares of Pentair plc (NYSE:PNR)

Polar Asset Management Partners Inc. trimmed its position in Pentair plc (NYSE:PNR) by 64.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,400 shares of the industrial products company’s stock after selling 155,100 shares during the period. Polar Asset Management Partners Inc.’s holdings in Pentair were worth $8,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PNR. Cetera Investment Advisers increased its holdings in Pentair by 222.8% during the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after purchasing an additional 34,959 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Pentair by 64.3% in the first quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company’s stock valued at $593,000 after acquiring an additional 2,718 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Pentair by 19.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,046 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 170 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Pentair by 187.7% in the second quarter. GAMMA Investing LLC now owns 2,765 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 1,804 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Pentair by 88.2% in the second quarter. CWM LLC now owns 5,414 shares of the industrial products company’s stock valued at $415,000 after acquiring an additional 2,538 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Pentair Stock Down 0.1 %

Shares of NYSE:PNR opened at $108.82 on Wednesday. The stock’s 50-day moving average price is $101.36 and its 200-day moving average price is $89.46. Pentair plc has a 12-month low of $65.31 and a 12-month high of $110.71. The stock has a market capitalization of $17.98 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. 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 (NYSE:PNR) last announced its quarterly earnings data 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 firm had revenue of $993.40 million for the quarter, compared to analysts’ expectations 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 period last year, the firm earned $0.94 earnings per share. On average, equities analysts anticipate that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.85%. Pentair’s dividend payout ratio is currently 23.00%.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the 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 approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PNR shares. TD Cowen upped their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research started coverage on Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. Mizuho upped their target price on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price objective on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average price target of $106.38.

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.