Ethic Inc. Purchases 1,649 Shares of Pentair plc (NYSE:PNR)

Ethic Inc. increased its holdings in Pentair plc (NYSE:PNR) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,991 shares of the industrial products company’s stock after purchasing an additional 1,649 shares during the period. Ethic Inc.’s holdings in Pentair were worth $2,314,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Parvin Asset Management LLC bought a new stake in shares of Pentair in the 4th quarter worth about $25,000. SJS Investment Consulting Inc. increased its stake in Pentair by 753.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 294 shares during the last quarter. Colonial Trust Co SC boosted its holdings in shares of Pentair by 230.8% in the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 240 shares during the period. Eastern Bank increased its position in shares of Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 300 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Pentair during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

Pentair stock opened at $93.52 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company has a market capitalization of $15.39 billion, a PE ratio of 25.01, a P/E/G ratio of 1.87 and a beta of 1.11. The company has a 50 day moving average price of $86.52 and a 200-day moving average price of $96.43. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $988.38 million. During the same period in the previous year, the company posted $0.94 EPS. As a group, equities analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Pentair’s payout ratio is currently 25.84%.

Analysts Set New Price Targets

PNR has been the subject of a number of analyst reports. Barclays raised their price target on Pentair from $110.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. UBS Group lowered their target price on shares of Pentair from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus cut their price target on shares of Pentair from $125.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 25th. Finally, Citigroup dropped their target price on Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.93.

Insider Buying and Selling

In related news, Director David A. /Wi Jones sold 6,558 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total value of $589,826.52. Following the completion of the transaction, the director now owns 26,313 shares of the company’s stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.