Baird Financial Group Inc. cut its stake in shares of Pentair PLC (NYSE:PNR) by 16.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,234 shares of the industrial products company’s stock after selling 5,806 shares during the quarter. Baird Financial Group Inc.’s holdings in Pentair were worth $1,230,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PNR. Wells Fargo & Company MN increased its position in shares of Pentair by 39.1% during the second quarter. Wells Fargo & Company MN now owns 3,619,549 shares of the industrial products company’s stock worth $152,309,000 after acquiring an additional 1,017,611 shares during the period. Parnassus Investments CA increased its position in shares of Pentair by 13.6% during the second quarter. Parnassus Investments CA now owns 7,973,507 shares of the industrial products company’s stock worth $335,525,000 after acquiring an additional 955,374 shares during the period. Sound Shore Management Inc. CT increased its position in shares of Pentair by 31.4% during the second quarter. Sound Shore Management Inc. CT now owns 2,942,681 shares of the industrial products company’s stock worth $123,828,000 after acquiring an additional 703,138 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Pentair by 540.6% during the second quarter. Canada Pension Plan Investment Board now owns 631,716 shares of the industrial products company’s stock worth $26,583,000 after acquiring an additional 533,100 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of Pentair by 246.1% during the second quarter. Great West Life Assurance Co. Can now owns 426,826 shares of the industrial products company’s stock worth $17,993,000 after acquiring an additional 303,517 shares during the period. 86.36% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on PNR. Robert W. Baird reaffirmed a “hold” rating and set a $44.00 target price on shares of Pentair in a research report on Friday, July 20th. Zacks Investment Research raised shares of Pentair from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Monday, July 30th. Barclays reaffirmed a “sell” rating and set a $39.00 target price on shares of Pentair in a research report on Thursday, July 26th. Seaport Global Securities reaffirmed a “buy” rating and set a $48.00 target price on shares of Pentair in a research report on Friday, July 27th. Finally, ValuEngine lowered shares of Pentair from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $57.43.

In other Pentair news, SVP Ademir Sarcevic sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $41.67, for a total value of $43,420.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $42.15, for a total transaction of $71,655,000.00. Following the completion of the sale, the director now owns 2,862 shares of the company’s stock, valued at $120,633.30. The disclosure for this sale can be found here. Company insiders own 10.70% of the company’s stock.

Shares of PNR stock opened at $45.31 on Wednesday. The company has a market cap of $7.73 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 1.40. Pentair PLC has a 52-week low of $41.00 and a 52-week high of $50.25.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $780.60 million for the quarter, compared to analyst estimates of $786.63 million. Pentair had a net margin of 10.12% and a return on equity of 15.19%. Pentair’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. sell-side analysts anticipate that Pentair PLC will post 2.31 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, October 19th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.54%. Pentair’s payout ratio is 19.83%.

Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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