Wealth Enhancement Advisory Services LLC Boosts Holdings in Pentair plc $PNR

Wealth Enhancement Advisory Services LLC grew its stake in Pentair plc (NYSE:PNR) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,015 shares of the industrial products company’s stock after purchasing an additional 5,364 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Pentair worth $9,961,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Sivia Capital Partners LLC purchased a new stake in Pentair during the 2nd quarter worth approximately $222,000. Farther Finance Advisors LLC boosted its stake in shares of Pentair by 50.3% in the second quarter. Farther Finance Advisors LLC now owns 1,001 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 335 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Pentair during the second quarter worth approximately $206,000. North Star Investment Management Corp. raised its stake in Pentair by 91.5% in the 2nd quarter. North Star Investment Management Corp. now owns 404 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 193 shares during the last quarter. Finally, Novem Group purchased a new position in Pentair in the 2nd quarter valued at $940,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Transactions at Pentair

In other Pentair news, CFO Robert P. Fishman sold 7,786 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $105.42, for a total transaction of $820,800.12. Following the completion of the transaction, the chief financial officer owned 63,164 shares of the company’s stock, valued at $6,658,748.88. This trade represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director T Michael Glenn sold 6,558 shares of Pentair stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $104.33, for a total transaction of $684,196.14. Following the sale, the director owned 31,192 shares of the company’s stock, valued at approximately $3,254,261.36. This represents a 17.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PNR shares. Wolfe Research reiterated an “outperform” rating and issued a $135.00 target price on shares of Pentair in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Pentair in a research note on Thursday. Wall Street Zen raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Robert W. Baird set a $130.00 price target on Pentair in a research report on Wednesday, October 22nd. Finally, Citigroup cut their price target on Pentair from $135.00 to $126.00 and set a “buy” rating for the company in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

Pentair Stock Down 0.5%

Shares of NYSE PNR opened at $107.65 on Friday. The company has a 50 day simple moving average of $104.70 and a 200-day simple moving average of $106.58. The company has a market capitalization of $17.62 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.46 and a quick ratio of 0.82. Pentair plc has a 1 year low of $74.25 and a 1 year high of $113.95.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.06. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Pentair had a return on equity of 21.83% and a net margin of 15.84%.The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts predict that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be issued a $0.27 dividend. This is an increase from Pentair’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 23rd. This represents a $1.08 annualized dividend and a yield of 1.0%. Pentair’s payout ratio is presently 25.38%.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.