Raymond James Financial Services Advisors Inc. Decreases Holdings in Pentair plc (NYSE:PNR)

Posted by Defense World Staff on Oct 26th, 2023

Pentair logo Raymond James Financial Services Advisors Inc. lessened its stake in shares of Pentair plc (NYSE:PNR – Free Report) by 13.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,443 shares of the industrial products company’s stock after selling 3,584 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Pentair were worth $1,450,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PNR. Raymond James & Associates increased its stake in shares of Pentair by 10.7% in the second quarter. Raymond James & Associates now owns 67,497 shares of the industrial products company’s stock worth $4,360,000 after purchasing an additional 6,507 shares in the last quarter. United Asset Strategies Inc. increased its stake in shares of Pentair by 4.0% in the second quarter. United Asset Strategies Inc. now owns 11,363 shares of the industrial products company’s stock worth $734,000 after purchasing an additional 440 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Pentair by 206.6% in the second quarter. Assenagon Asset Management S.A. now owns 215,569 shares of the industrial products company’s stock worth $13,926,000 after purchasing an additional 145,259 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Pentair by 11.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 289,723 shares of the industrial products company’s stock valued at $18,505,000 after acquiring an additional 29,680 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in shares of Pentair by 33.7% in the second quarter. Vontobel Holding Ltd. now owns 280,436 shares of the industrial products company’s stock valued at $18,116,000 after acquiring an additional 70,695 shares during the period. Hedge funds and other institutional investors own 88.60% of the company’s stock.

Pentair Trading Down 3.5 %

Shares of PNR opened at $57.38 on Thursday. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.77 and a current ratio of 1.48. Pentair plc has a fifty-two week low of $39.53 and a fifty-two week high of $71.82. The firm has a 50 day moving average price of $65.70 and a 200-day moving average price of $62.81.

Pentair (NYSE:PNR – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $992.23 million. Pentair had a net margin of 11.82% and a return on equity of 22.39%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. As a group, equities research analysts forecast that Pentair plc will post 3.74 earnings per share for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, October 19th. Pentair’s payout ratio is 29.53%.

Insider Buying and Selling

In related news, CEO John L. Stauch sold 32,596 shares of Pentair stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.42, for a total value of $2,328,006.32. Following the transaction, the chief executive officer now directly owns 7,690 shares of the company’s stock, valued at $549,219.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pentair in a research report on Wednesday, June 28th. They issued a “buy” rating and a $75.00 price objective for the company. Seaport Res Ptn restated a “buy” rating on shares of Pentair in a research report on Monday, August 7th. Oppenheimer raised their price objective on shares of Pentair from $78.00 to $80.00 in a research report on Friday, July 28th. StockNews.com initiated coverage on shares of Pentair in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Citigroup lifted their target price on shares of Pentair from $70.00 to $74.00 in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

View Our Latest Stock Analysis on PNR

Pentair Company Profile

(Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.