Pentair PLC (PNR) Holdings Reduced by First Bank & Trust

First Bank & Trust trimmed its position in shares of Pentair PLC (NYSE:PNR) by 74.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,134 shares of the industrial products company’s stock after selling 3,296 shares during the quarter. First Bank & Trust’s holdings in Pentair were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new position in Pentair during the first quarter worth $2,762,000. First Citizens Bank & Trust Co. boosted its stake in Pentair by 13.4% during the first quarter. First Citizens Bank & Trust Co. now owns 20,451 shares of the industrial products company’s stock worth $910,000 after buying an additional 2,409 shares during the period. Calamos Advisors LLC boosted its stake in Pentair by 1.0% during the first quarter. Calamos Advisors LLC now owns 164,563 shares of the industrial products company’s stock worth $7,325,000 after buying an additional 1,652 shares during the period. Manning & Napier Group LLC boosted its stake in Pentair by 16.5% during the first quarter. Manning & Napier Group LLC now owns 27,574 shares of the industrial products company’s stock worth $1,227,000 after buying an additional 3,897 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Pentair by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 47,115 shares of the industrial products company’s stock worth $2,095,000 after buying an additional 558 shares during the period. 85.79% of the stock is owned by institutional investors.

In related news, SVP Ademir Sarcevic sold 2,435 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $45.00, for a total value of $109,575.00. Following the completion of the sale, the senior vice president now directly owns 2,763 shares of the company’s stock, valued at $124,335. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Karl R. Frykman sold 10,241 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $41.28, for a total transaction of $422,748.48. Following the completion of the sale, the chief operating officer now directly owns 60,877 shares of the company’s stock, valued at $2,513,002.56. The disclosure for this sale can be found here. Insiders have sold 12,942 shares of company stock valued at $543,730 over the last three months. Insiders own 0.80% of the company’s stock.

PNR has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective on shares of Pentair from $47.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. ValuEngine lowered shares of Pentair from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Zacks Investment Research raised shares of Pentair from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, February 5th. Oppenheimer reaffirmed a “hold” rating on shares of Pentair in a research note on Tuesday, January 29th. Finally, Morgan Stanley initiated coverage on shares of Pentair in a research note on Tuesday, December 18th. They set an “equal weight” rating and a $41.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Pentair has an average rating of “Hold” and an average target price of $45.90.

Shares of PNR opened at $40.47 on Wednesday. The firm has a market cap of $6.85 billion, a PE ratio of 17.22, a P/E/G ratio of 2.92 and a beta of 1.25. Pentair PLC has a 12-month low of $35.30 and a 12-month high of $72.96. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 0.43.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, January 29th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. The firm had revenue of $740.50 million during the quarter, compared to analyst estimates of $735.74 million. Pentair had a net margin of 9.92% and a return on equity of 18.86%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. Analysts predict that Pentair PLC will post 2.33 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, April 17th. Pentair’s dividend payout ratio is currently 30.64%.

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Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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