Piscataqua Savings Bank Acquires 274 Shares of Pentair plc (NYSE:PNR)

Piscataqua Savings Bank grew its holdings in shares of Pentair plc (NYSE:PNR) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,666 shares of the industrial products company’s stock after buying an additional 274 shares during the period. Pentair makes up 1.1% of Piscataqua Savings Bank’s investment portfolio, making the stock its 26th largest holding. Piscataqua Savings Bank’s holdings in Pentair were worth $1,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Pentair by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock worth $2,034,575,000 after purchasing an additional 148,031 shares in the last quarter. FMR LLC boosted its holdings in Pentair by 7.0% in the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock worth $614,030,000 after acquiring an additional 396,581 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Pentair by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock worth $410,240,000 after acquiring an additional 87,244 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Pentair by 6.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,468,651 shares of the industrial products company’s stock worth $349,085,000 after acquiring an additional 217,867 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Pentair by 27.9% in the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock worth $197,482,000 after purchasing an additional 428,184 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PNR shares. Robert W. Baird cut their target price on Pentair from $114.00 to $107.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised shares of Pentair from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $113.00 in a research note on Friday, May 16th. Wall Street Zen raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Mizuho set a $100.00 price objective on shares of Pentair in a research note on Tuesday, April 22nd. Finally, Citigroup dropped their price target on shares of Pentair from $118.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Pentair presently has a consensus rating of “Buy” and a consensus price target of $107.14.

Insider Buying and Selling

In other news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction on Monday, April 28th. The stock was sold at an average price of $89.94, for a total transaction of $589,826.52. Following the sale, the director now directly owns 26,313 shares in the company, valued at $2,366,591.22. The trade was a 19.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Pentair Stock Down 0.1%

PNR opened at $99.59 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The company’s 50-day moving average is $90.89 and its 200 day moving average is $96.01. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The firm has a market capitalization of $16.39 billion, a P/E ratio of 26.63, a PEG ratio of 1.87 and a beta of 1.10.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $988.38 million. During the same quarter last year, the firm earned $0.94 EPS. Research analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. Pentair’s dividend payout ratio (DPR) is currently 25.84%.

About Pentair

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.