California State Teachers Retirement System trimmed its stake in Pentair PLC (NYSE:PNR) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,006 shares of the industrial products company’s stock after selling 6,570 shares during the quarter. California State Teachers Retirement System owned 0.15% of Pentair worth $11,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Pentair during the first quarter valued at $791,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Pentair by 14.4% during the first quarter. Parametric Portfolio Associates LLC now owns 519,016 shares of the industrial products company’s stock valued at $23,101,000 after acquiring an additional 65,509 shares during the period. Blackhawk Capital Partners LLC. raised its holdings in shares of Pentair by 23.0% in the first quarter. Blackhawk Capital Partners LLC. now owns 8,895 shares of the industrial products company’s stock valued at $396,000 after buying an additional 1,664 shares during the last quarter. Piedmont Investment Advisors Inc. raised its holdings in shares of Pentair by 0.5% in the first quarter. Piedmont Investment Advisors Inc. now owns 68,632 shares of the industrial products company’s stock valued at $3,055,000 after buying an additional 364 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Pentair by 4.0% in the first quarter. Freestone Capital Holdings LLC now owns 327,297 shares of the industrial products company’s stock valued at $14,568,000 after buying an additional 12,590 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.
NYSE PNR traded up $0.71 during trading on Friday, hitting $37.20. The stock had a trading volume of 2,028,000 shares, compared to its average volume of 1,696,468. The firm has a market cap of $6.25 billion, a P/E ratio of 15.83, a PEG ratio of 2.65 and a beta of 1.20. The company has a 50-day moving average price of $36.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.77 and a quick ratio of 1.18. Pentair PLC has a 12 month low of $34.72 and a 12 month high of $45.99.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, July 18th. Pentair’s payout ratio is presently 30.64%.
In related news, SVP Ademir Sarcevic sold 2,435 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $45.00, for a total transaction of $109,575.00. Following the transaction, the senior vice president now directly owns 2,763 shares of the company’s stock, valued at approximately $124,335. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by insiders.
A number of brokerages recently commented on PNR. BMO Capital Markets lowered their price objective on Pentair to $39.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Cowen reiterated an “outperform” rating and issued a $45.00 price objective (down from $52.00) on shares of Pentair in a research report on Monday, April 22nd. ValuEngine lowered Pentair from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research upgraded Pentair from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Pentair has a consensus rating of “Hold” and an average target price of $45.10.
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment 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, pool repair, renovation, service and construction, and aquaculture solution applications.
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