Great Lakes Advisors LLC Has $7.10 Million Stock Holdings in Pentair plc $PNR

Great Lakes Advisors LLC lowered its stake in Pentair plc (NYSE:PNR) by 44.9% during the third quarter, Holdings Channel.com reports. The fund owned 64,143 shares of the industrial products company’s stock after selling 52,226 shares during the period. Great Lakes Advisors LLC’s holdings in Pentair were worth $7,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PNR. Richardson Financial Services Inc. grew its stake in Pentair by 64.9% in the third quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Pentair by 105.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 345 shares of the industrial products company’s stock valued at $35,000 after buying an additional 177 shares during the last quarter. Root Financial Partners LLC acquired a new position in Pentair during the third quarter worth $41,000. CoreCap Advisors LLC increased its holdings in Pentair by 58.8% during the third quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company’s stock worth $45,000 after buying an additional 150 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in Pentair during the second quarter worth $45,000. Institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PNR shares. Robert W. Baird set a $130.00 target price on shares of Pentair in a report on Wednesday, October 22nd. Wall Street Zen upgraded Pentair from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Barclays cut Pentair from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $127.00 to $115.00 in a research report on Thursday, December 4th. Wolfe Research restated an “outperform” rating and issued a $135.00 price target on shares of Pentair in a research note on Tuesday, December 9th. Finally, BNP Paribas Exane downgraded Pentair from a “hold” rating to a “strong sell” rating and set a $90.00 price target for the company. in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Pentair presently has an average rating of “Moderate Buy” and a consensus price target of $117.47.

Insider Activity

In other news, CFO Robert P. Fishman sold 7,786 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $105.42, for a total value of $820,800.12. Following the completion of the transaction, the chief financial officer directly owned 63,164 shares in the company, valued at approximately $6,658,748.88. The trade was a 10.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director T Michael Glenn sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $104.33, for a total transaction of $684,196.14. Following the sale, the director directly owned 31,192 shares of the company’s stock, valued at approximately $3,254,261.36. This trade represents a 17.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Pentair Trading Up 0.6%

Shares of PNR stock opened at $105.82 on Friday. The stock has a market cap of $17.32 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. Pentair plc has a 1 year low of $74.25 and a 1 year high of $113.95. The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $105.07 and a 200 day simple moving average of $106.58.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.0%. This is a boost from Pentair’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, January 23rd. Pentair’s payout ratio is presently 27.41%.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.