Dorsey & Whitney Trust CO LLC Sells 4,387 Shares of Pentair plc (NYSE:PNR)

Dorsey & Whitney Trust CO LLC trimmed its holdings in shares of Pentair plc (NYSE:PNRGet Rating) by 29.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,410 shares of the industrial products company’s stock after selling 4,387 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Pentair were worth $475,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PNR. Steward Partners Investment Advisory LLC grew its position in Pentair by 58.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 623 shares of the industrial products company’s stock valued at $34,000 after buying an additional 231 shares during the period. Arizona State Retirement System boosted its position in shares of Pentair by 2.0% in the first quarter. Arizona State Retirement System now owns 46,062 shares of the industrial products company’s stock worth $2,497,000 after purchasing an additional 903 shares during the period. abrdn plc boosted its position in shares of Pentair by 1.8% in the first quarter. abrdn plc now owns 75,250 shares of the industrial products company’s stock worth $4,199,000 after purchasing an additional 1,347 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Pentair by 17.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,682 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 400 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Pentair in the first quarter worth approximately $352,000. 87.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup dropped their price target on shares of Pentair from $60.00 to $57.00 in a research report on Monday, October 10th. Cowen dropped their price target on shares of Pentair from $75.00 to $65.00 in a research report on Wednesday, July 27th. JPMorgan Chase & Co. began coverage on shares of Pentair in a research report on Wednesday, October 26th. They set a “neutral” rating and a $42.00 target price for the company. Cowen dropped their target price on shares of Pentair from $75.00 to $65.00 in a research report on Wednesday, July 27th. Finally, Morgan Stanley upped their target price on shares of Pentair from $38.00 to $39.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.00.

Pentair Price Performance

Pentair stock opened at $45.95 on Thursday. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.51 and a beta of 1.08. The firm’s fifty day moving average is $42.29 and its 200 day moving average is $45.81. The company has a quick ratio of 0.71, a current ratio of 1.42 and a debt-to-equity ratio of 0.93. Pentair plc has a 52-week low of $38.55 and a 52-week high of $77.68.

Pentair (NYSE:PNRGet Rating) last announced its earnings results on Tuesday, October 25th. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. Pentair had a net margin of 13.02% and a return on equity of 24.47%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Pentair plc will post 3.65 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 4th. Stockholders of record on Friday, October 21st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, October 20th. Pentair’s dividend payout ratio is currently 26.17%.

Pentair Profile

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Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, 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, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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