Meyer Handelman Co. Trims Stake in Pentair PLC (NYSE:PNR)

Meyer Handelman Co. trimmed its holdings in shares of Pentair PLC (NYSE:PNR) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,993 shares of the industrial products company’s stock after selling 2,739 shares during the quarter. Meyer Handelman Co.’s holdings in Pentair were worth $2,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. NEXT Financial Group Inc increased its holdings in Pentair by 418.3% during the fourth quarter. NEXT Financial Group Inc now owns 1,218 shares of the industrial products company’s stock valued at $56,000 after buying an additional 983 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Pentair by 16.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 42,974 shares of the industrial products company’s stock valued at $1,971,000 after buying an additional 5,962 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Pentair by 357.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,594 shares of the industrial products company’s stock valued at $4,293,000 after buying an additional 73,118 shares during the last quarter. Cerebellum GP LLC grew its holdings in shares of Pentair by 5.6% during the fourth quarter. Cerebellum GP LLC now owns 12,307 shares of the industrial products company’s stock valued at $565,000 after buying an additional 651 shares during the last quarter. Finally, FormulaFolio Investments LLC purchased a new stake in shares of Pentair during the fourth quarter valued at $332,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

In other Pentair news, Director David A. /Wi Jones sold 6,116 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $43.11, for a total value of $263,660.76. Following the completion of the transaction, the director now owns 19,310 shares in the company, valued at $832,454.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 18,348 shares of company stock valued at $791,043. Insiders own 0.80% of the company’s stock.

NYSE PNR traded up $0.12 on Thursday, reaching $46.28. 9,467 shares of the company’s stock traded hands, compared to its average volume of 690,240. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 3.22 and a beta of 1.23. The stock has a 50 day moving average price of $45.76 and a 200-day moving average price of $40.50. Pentair PLC has a fifty-two week low of $34.50 and a fifty-two week high of $47.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.44.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $713.60 million during the quarter, compared to the consensus estimate of $719.07 million. Pentair had a net margin of 11.92% and a return on equity of 21.35%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, equities research analysts anticipate that Pentair PLC will post 2.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Pentair’s previous quarterly dividend of $0.18. Pentair’s dividend payout ratio is 30.64%.

PNR has been the topic of a number of research analyst reports. Stifel Nicolaus lowered shares of Pentair from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a report on Tuesday, December 17th. Citigroup initiated coverage on shares of Pentair in a report on Tuesday, December 17th. They set a “neutral” rating and a $50.00 price objective on the stock. Rosenblatt Securities initiated coverage on shares of Pentair in a report on Thursday, January 16th. They set a “buy” rating and a $54.00 price objective on the stock. Royal Bank of Canada restated a “hold” rating and set a $48.00 target price on shares of Pentair in a research report on Wednesday, December 18th. Finally, UBS Group initiated coverage on shares of Pentair in a research report on Wednesday, December 11th. They set a “hold” rating and a $42.00 target price for the company. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Pentair currently has an average rating of “Hold” and an average target price of $47.20.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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