Sentry Investment Management LLC Decreases Holdings in Pentair PLC (PNR)

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Sentry Investment Management LLC cut its stake in shares of Pentair PLC (NYSE:PNR) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,154 shares of the industrial products company’s stock after selling 1,296 shares during the period. Sentry Investment Management LLC’s holdings in Pentair were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNR. Wells Fargo & Company MN raised its stake in Pentair by 39.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,619,549 shares of the industrial products company’s stock valued at $152,309,000 after buying an additional 1,017,611 shares during the last quarter. Parnassus Investments CA raised its stake in Pentair by 13.6% during the 2nd quarter. Parnassus Investments CA now owns 7,973,507 shares of the industrial products company’s stock valued at $335,525,000 after buying an additional 955,374 shares during the last quarter. Sound Shore Management Inc. CT raised its stake in Pentair by 31.4% during the 2nd quarter. Sound Shore Management Inc. CT now owns 2,942,681 shares of the industrial products company’s stock valued at $123,828,000 after buying an additional 703,138 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Pentair by 540.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 631,716 shares of the industrial products company’s stock valued at $26,583,000 after buying an additional 533,100 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in Pentair by 246.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 426,826 shares of the industrial products company’s stock valued at $17,993,000 after buying an additional 303,517 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

In other Pentair news, SVP Ademir Sarcevic sold 1,042 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $41.67, for a total value of $43,420.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $42.15, for a total value 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 approximately $120,633.30. The disclosure for this sale can be found here. Corporate insiders own 10.70% of the company’s stock.

NYSE:PNR opened at $42.90 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $7.63 billion, a PE ratio of 12.15, a P/E/G ratio of 1.88 and a beta of 1.37. Pentair PLC has a one year low of $41.00 and a one year high of $50.25.

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

A number of equities research analysts have weighed in on PNR shares. Royal Bank of Canada reiterated a “hold” rating and set a $48.00 target price on shares of Pentair in a research note on Friday, July 13th. Barclays reiterated a “sell” rating and set a $39.00 target price on shares of Pentair in a research note on Thursday, July 26th. KeyCorp reiterated an “equal weight” rating on shares of Pentair in a research note on Thursday, May 31st. Zacks Investment Research upgraded shares of Pentair from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, TheStreet lowered Pentair from a “b” rating to a “c+” rating in a research note on Thursday, June 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Pentair presently has an average rating of “Hold” and a consensus price target of $57.43.

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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