New England Research & Management Inc. Sells 100 Shares of Pentair plc (NYSE:PNR)

New England Research & Management Inc. decreased its holdings in shares of Pentair plc (NYSE:PNR) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,250 shares of the industrial products company’s stock after selling 100 shares during the quarter. New England Research & Management Inc.’s holdings in Pentair were worth $931,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Quarry LP raised its position in Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in shares of Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 294 shares in the last quarter. Eastern Bank grew its holdings in shares of Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after buying an additional 300 shares in the last quarter. Blue Trust Inc. lifted its stake in Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Pentair in the 4th quarter worth approximately $56,000. 92.37% of the stock is owned by institutional investors.

Pentair Trading Down 1.1 %

Shares of NYSE:PNR opened at $101.63 on Thursday. The firm has a fifty day moving average price of $103.95 and a 200 day moving average price of $96.39. 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 $71.40 and a 1 year high of $110.71. The stock has a market capitalization of $16.79 billion, a PE ratio of 25.41, a P/E/G ratio of 1.67 and a beta of 1.21.

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is currently 23.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNR. Citigroup reduced their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. TD Cowen upped their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Pentair in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.07.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction on 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 owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.