Pentair plc (NYSE:PNR) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its holdings in shares of Pentair plc (NYSE:PNR) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,203,320 shares of the industrial products company’s stock after selling 79,844 shares during the period. Bessemer Group Inc. owned about 0.73% of Pentair worth $105,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Parvin Asset Management LLC purchased a new position in shares of Pentair in the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair in the first quarter valued at approximately $28,000. NBC Securities Inc. purchased a new position in Pentair during the first quarter worth approximately $33,000. Colonial Trust Co SC boosted its stake in Pentair by 230.8% during the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock worth $35,000 after buying an additional 240 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Pentair by 128.4% in the 1st quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company’s stock valued at $44,000 after buying an additional 285 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Down 0.1%

Pentair stock opened at $101.13 on Thursday. The firm’s fifty day simple moving average is $95.40 and its 200-day simple moving average is $95.16. The company has a current ratio of 1.89, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The company has a market capitalization of $16.64 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.94 and a beta of 1.10.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. Pentair had a net margin of 15.87% and a return on equity of 21.24%. During the same quarter in the previous year, the firm posted $0.94 EPS. Sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, July 18th. Pentair’s dividend payout ratio is 25.84%.

Wall Street Analyst Weigh In

PNR has been the subject of several research analyst reports. Baird R W upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. upgraded Pentair from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $90.00 to $113.00 in a research note on Friday, May 16th. Barclays raised their price objective on shares of Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Royal Bank Of Canada upped their price objective on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Finally, Mizuho set a $100.00 target price on shares of Pentair in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $107.14.

Insider Buying and Selling at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction 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 sale, the director now directly owns 26,313 shares in the company, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Pentair Company 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.