Townsquare Capital LLC Buys 2,484 Shares of Pentair plc (NYSE:PNR)

Townsquare Capital LLC lifted its position in Pentair plc (NYSE:PNR) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,813 shares of the industrial products company’s stock after purchasing an additional 2,484 shares during the quarter. Townsquare Capital LLC’s holdings in Pentair were worth $3,209,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new position in Pentair in the first quarter valued at about $58,000. Cetera Investment Advisers grew its position 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 acquiring an additional 34,959 shares during the last quarter. Cetera Advisors LLC increased its holdings in Pentair by 64.3% during the 1st quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company’s stock valued at $593,000 after purchasing an additional 2,718 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Pentair by 443.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 77,215 shares of the industrial products company’s stock valued at $6,598,000 after purchasing an additional 63,012 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Pentair by 19.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,046 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PNR. JPMorgan Chase & Co. lifted their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. KeyCorp upped their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays raised their price target on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer lifted their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $106.38.

Insiders Place Their Bets

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 value of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Pentair Price Performance

Pentair stock opened at $108.99 on Friday. The firm has a market capitalization of $18.01 billion, a P/E ratio of 27.25, a PEG ratio of 1.94 and a beta of 1.19. The business has a 50-day moving average of $100.57 and a 200-day moving average of $88.85. 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 plc has a 1 year low of $63.38 and a 1 year high of $110.71.

Pentair (NYSE:PNR) last issued its earnings results 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. The firm had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, equities analysts anticipate that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.84%. Pentair’s payout ratio is 23.00%.

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.