Pentair plc $PNR Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of Pentair plc (NYSE:PNR) by 11.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,970 shares of the industrial products company’s stock after purchasing an additional 5,261 shares during the period. Federated Hermes Inc.’s holdings in Pentair were worth $5,867,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PNR. Richardson Financial Services Inc. increased its position in Pentair by 64.9% in the 3rd quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Wedmont Private Capital increased its stake in Pentair by 2.7% in the 3rd quarter. Wedmont Private Capital now owns 3,906 shares of the industrial products company’s stock valued at $432,000 after buying an additional 101 shares during the period. Portside Wealth Group LLC raised its position in Pentair by 2.9% during the 2nd quarter. Portside Wealth Group LLC now owns 3,644 shares of the industrial products company’s stock worth $374,000 after buying an additional 102 shares during the last quarter. Greenwich Wealth Management LLC lifted its stake in shares of Pentair by 1.4% in the 2nd quarter. Greenwich Wealth Management LLC now owns 7,223 shares of the industrial products company’s stock worth $742,000 after acquiring an additional 102 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of Pentair by 0.3% in the second quarter. Captrust Financial Advisors now owns 38,135 shares of the industrial products company’s stock valued at $3,915,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Transactions at Pentair

In other news, CFO Robert P. Fishman sold 7,786 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $105.42, for a total value of $820,800.12. Following the completion of the transaction, the chief financial officer owned 63,164 shares of the company’s stock, valued at $6,658,748.88. The trade was a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director T Michael Glenn sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $104.33, for a total transaction of $684,196.14. Following the transaction, the director directly owned 31,192 shares in the company, valued at $3,254,261.36. The trade was a 17.37% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Pentair Trading Up 0.3%

Shares of PNR opened at $105.64 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.46 and a quick ratio of 0.82. Pentair plc has a 1-year low of $74.25 and a 1-year high of $113.95. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The firm has a 50 day simple moving average of $105.11 and a 200-day simple moving average of $106.58.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, January 23rd. This is an increase from Pentair’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.0%. Pentair’s dividend payout ratio is 27.41%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PNR shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Pentair in a research report on Thursday, January 22nd. Oppenheimer upped their price objective on Pentair from $124.00 to $128.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. TD Cowen downgraded shares of Pentair from a “buy” rating to a “market perform” rating in a report on Monday, January 5th. Citigroup lowered their target price on shares of Pentair from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Finally, UBS Group lifted their price target on shares of Pentair from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.47.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.