Pentair PLC. (NYSE:PNR) Shares Bought by Meyer Handelman Co.

Meyer Handelman Co. raised its position in shares of Pentair PLC. (NYSE:PNR) by 6.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,610 shares of the industrial products company’s stock after purchasing an additional 3,112 shares during the period. Meyer Handelman Co.’s holdings in Pentair PLC. were worth $3,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Pentair PLC. by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,456 shares of the industrial products company’s stock valued at $829,000 after purchasing an additional 53 shares in the last quarter. CIBC Asset Management Inc raised its position in Pentair PLC. by 0.3% during the second quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock valued at $1,092,000 after purchasing an additional 54 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Pentair PLC. by 1.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,439 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 62 shares in the last quarter. Thrivent Financial For Lutherans raised its position in Pentair PLC. by 1.5% during the second quarter. Thrivent Financial For Lutherans now owns 6,319 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 92 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Pentair PLC. by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.

In other Pentair PLC. news, insider Karl R. Frykman sold 11,386 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $70.24, for a total value of $799,752.64. Following the sale, the insider now owns 36,476 shares in the company, valued at approximately $2,562,074.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald Merriman sold 5,200 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the sale, the director now owns 21,538 shares in the company, valued at $1,443,046. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,586 shares of company stock worth $1,850,853. Corporate insiders own 9.90% of the company’s stock.

PNR has been the topic of a number of recent research reports. Zacks Investment Research raised Pentair PLC. from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Tuesday, October 10th. KeyCorp reissued a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a research note on Thursday, October 12th. Seaport Global Securities reissued a “buy” rating on shares of Pentair PLC. in a research note on Wednesday, October 25th. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 target price (up from $69.00) on shares of Pentair PLC. in a research note on Wednesday, July 26th. Finally, Robert W. Baird reissued a “hold” rating and issued a $70.00 target price on shares of Pentair PLC. in a research note on Wednesday, October 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Pentair PLC. currently has an average rating of “Hold” and a consensus target price of $70.92.

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Shares of Pentair PLC. (NYSE:PNR) traded down $0.12 during mid-day trading on Friday, hitting $68.05. 1,043,400 shares of the stock were exchanged, compared to its average volume of 856,517. Pentair PLC. has a 12-month low of $55.76 and a 12-month high of $71.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.59. The company has a market cap of $12,357.68, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40.

Pentair PLC. (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. sell-side analysts expect that Pentair PLC. will post 3.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Friday, October 20th were paid a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, October 19th. Pentair PLC.’s payout ratio is currently 41.82%.

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.

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

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