Investment Centers of America Inc. Cuts Position in Pentair PLC. (PNR)

Investment Centers of America Inc. cut its position in shares of Pentair PLC. (NYSE:PNR) by 21.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,607 shares of the industrial products company’s stock after selling 993 shares during the period. Investment Centers of America Inc.’s holdings in Pentair PLC. were worth $225,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PNR. First Personal Financial Services boosted its stake in shares of Pentair PLC. by 17.6% in the first quarter. First Personal Financial Services now owns 2,006 shares of the industrial products company’s stock worth $126,000 after buying an additional 300 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Pentair PLC. by 6.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,641 shares of the industrial products company’s stock worth $166,000 after buying an additional 157 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Pentair PLC. by 62.2% in the first quarter. Advisors Asset Management Inc. now owns 2,796 shares of the industrial products company’s stock worth $176,000 after buying an additional 1,072 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Pentair PLC. by 1.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,037 shares of the industrial products company’s stock worth $191,000 after buying an additional 50 shares during the last quarter. Finally, Skba Capital Management LLC purchased a new stake in shares of Pentair PLC. during the first quarter worth $203,000. 86.74% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Pentair PLC. (NYSE:PNR)

Shares of Pentair PLC. (NYSE:PNR) traded down 1.12% during mid-day trading on Tuesday, reaching $66.49. The company’s stock had a trading volume of 557,608 shares. The firm has a 50-day moving average of $65.96 and a 200-day moving average of $61.46. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $69.03. The firm has a market capitalization of $12.12 billion, a PE ratio of 24.20 and a beta of 1.33.

Pentair PLC. (NYSE:PNR) last announced its earnings results on Tuesday, April 25th. The industrial products company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Pentair PLC. had a return on equity of 14.19% and a net margin of 9.46%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. Equities research analysts forecast that Pentair PLC. will post $3.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.345 per share. The ex-dividend date is Wednesday, July 19th. This represents a $1.38 annualized dividend and a dividend yield of 2.08%. Pentair PLC.’s dividend payout ratio is presently 50.37%.

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A number of equities research analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Pentair PLC. from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, May 24th. Zacks Investment Research cut Pentair PLC. from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Stifel Nicolaus lifted their price objective on Pentair PLC. from $63.00 to $64.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Gabelli cut Pentair PLC. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $77.00 target price (up from $73.00) on shares of Pentair PLC. in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $66.46.

In other news, Director T Michael Glenn sold 7,161 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $65.00, for a total transaction of $465,465.00. Following the completion of the sale, the director now directly owns 23,357 shares in the company, valued at $1,518,205. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Angela D. Jilek sold 1,367 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $65.00, for a total value of $88,855.00. Following the sale, the vice president now owns 33,262 shares of the company’s stock, valued at $2,162,030. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 1,726,000 shares of company stock valued at $112,619,140 and have sold 356,353 shares valued at $23,432,170. 9.90% of the stock is owned by company insiders.

About Pentair PLC.

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

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