Belpointe Asset Management LLC Takes $413,000 Position in Pentair PLC. (PNR)

Belpointe Asset Management LLC bought a new stake in Pentair PLC. (NYSE:PNR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,074 shares of the industrial products company’s stock, valued at approximately $413,000.

Other hedge funds also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new position in Pentair in the 3rd quarter worth approximately $116,000. YorkBridge Wealth Partners LLC raised its position in Pentair by 6.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 111 shares during the last quarter. Krilogy Financial LLC raised its position in Pentair by 121.2% in the 2nd quarter. Krilogy Financial LLC now owns 2,281 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 1,250 shares during the last quarter. Penserra Capital Management LLC raised its position in Pentair by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,444 shares of the industrial products company’s stock worth $162,000 after purchasing an additional 282 shares during the last quarter. Finally, King Luther Capital Management Corp bought a new position in Pentair in the 2nd quarter worth approximately $205,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.

In other news, Director William T. Monahan sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $70.27, for a total value of $702,700.00. Following the completion of the transaction, the director now owns 50,656 shares of the company’s stock, valued at approximately $3,559,597.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Trian Fund Management, L.P. purchased 9,966 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was purchased at an average cost of $69.22 per share, with a total value of $689,846.52. Following the acquisition, the director now directly owns 1,122 shares in the company, valued at $77,664.84. The disclosure for this purchase can be found here. Insiders have sold a total of 217,632 shares of company stock valued at $14,783,286 in the last ninety days. Company insiders own 9.90% of the company’s stock.

Several research firms recently weighed in on PNR. Zacks Investment Research upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, October 27th. BMO Capital Markets boosted their price objective on shares of Pentair from $78.00 to $79.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 25th. Seaport Global Securities restated a “buy” rating on shares of Pentair in a research report on Wednesday, October 25th. Robert W. Baird boosted their price objective on shares of Pentair from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $76.00 price objective (up previously from $75.00) on shares of Pentair in a research report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $70.67.

Pentair PLC. (NYSE PNR) traded down $0.67 on Friday, reaching $68.17. 1,632,289 shares of the company’s stock were exchanged, compared to its average volume of 999,424. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.30. Pentair PLC. has a 12-month low of $55.76 and a 12-month high of $71.76. The firm has a market cap of $12,501.17, a price-to-earnings ratio of 20.37, a PEG ratio of 1.83 and a beta of 1.41.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Pentair had a net margin of 12.50% and a return on equity of 13.39%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. equities 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, February 9th. Shareholders of record on Friday, January 26th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, January 25th. This is a positive change from Pentair’s previous quarterly dividend of $0.35. Pentair’s payout ratio is currently 41.82%.

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Pentair Profile

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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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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