Seven Eight Capital LP Sells 1,273 Shares of Pentair plc (NYSE:PNR)

Seven Eight Capital LP lowered its position in Pentair plc (NYSE:PNR) by 18.4% during the 1st quarter, Holdings Channel reports. The firm owned 5,657 shares of the industrial products company’s stock after selling 1,273 shares during the quarter. Seven Eight Capital LP’s holdings in Pentair were worth $483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc grew its stake in Pentair by 1.3% in the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after purchasing an additional 131,745 shares in the last quarter. Kodai Capital Management LP bought a new stake in Pentair during the 4th quarter valued at $173,280,000. Charles Schwab Investment Management Inc. boosted its position in Pentair by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock valued at $100,179,000 after acquiring an additional 16,875 shares in the last quarter. KBC Group NV boosted its position in Pentair by 49.2% during the 4th quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after acquiring an additional 392,785 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Pentair by 138.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock valued at $60,655,000 after acquiring an additional 484,810 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of NYSE PNR traded down $3.39 during trading on Wednesday, reaching $83.80. 3,117,782 shares of the company traded hands, compared to its average volume of 1,635,276. The firm’s fifty day simple moving average is $79.30 and its 200 day simple moving average is $78.47. The stock has a market cap of $13.91 billion, a P/E ratio of 22.91, a PEG ratio of 1.40 and a beta of 1.21. Pentair plc has a 12-month low of $57.18 and a 12-month high of $88.47. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. As a group, research analysts anticipate that Pentair plc will post 4.2 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Insider Activity

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the sale, the chief executive officer now directly owns 38,538 shares in the company, valued at approximately $3,254,534.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group increased their price objective on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen increased their price objective on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Oppenheimer increased their price objective on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.87.

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.