Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Pentair plc EVP & CEO sells over $2 million in company stock

Published 24/05/2024, 07:20 am
PNR
-

Pentair plc (NYSE:PNR), a leader in the special industry machinery sector, has witnessed a significant stock transaction by one of its top executives. Jerome O. Pedretti, the company's EVP & CEO of Pool (NASDAQ:POOL), has sold a considerable number of shares, according to the latest regulatory filings.

The executive offloaded a total of 24,747 common shares at an average price between $84.4325 and $84.8914, resulting in a transaction value exceeding $2 million. This sale, executed on May 22, 2024, has drawn the attention of investors monitoring insider activity.

In addition to the sale, Pedretti also acquired shares through option exercises the same day. He exercised options for a total of 25,747 shares, with the prices for these acquisitions ranging from $41.08 to $45.42. The total value for these option exercises amounted to approximately $1.06 million.

Following these transactions, Pedretti's direct ownership in the company has adjusted to 38,538 common shares. It's important to note that these figures include end-of-period holdings that have been affected by shares acquired under a dividend reinvestment plan, as indicated by the footnotes in the SEC filing.

Pentair plc has not provided any official comment on these transactions. However, the information provided in the SEC Form 4 filing gives a transparent view of the executive's trading activities, which is valuable data for investors and market analysts.

Investors often scrutinize insider buying and selling as it can provide insights into an executive's confidence in the company's future prospects. With Pentair plc's shares being actively traded by one of its key executives, stakeholders may be keen to understand the context of these transactions and their potential implications on the company's stock performance.

InvestingPro Insights

Amidst the recent insider trading activity at Pentair plc (NYSE:PNR), investors may find additional context through real-time data and insights from InvestingPro. The company, known for its expertise in the special industry machinery sector, has been performing in a way that may influence investor sentiment.

InvestingPro Data shows that Pentair's market capitalization stands at a robust $13.7 billion, reflective of its significant presence in the industry. The company's Price-to-Earnings (P/E) ratio is currently 21.82, with a slight adjustment to 20.04 for the last twelve months as of Q1 2024. This P/E ratio, when juxtaposed with the company's near-term earnings growth, suggests that the stock is trading at a low P/E ratio relative to its earnings growth—a data point that might be especially relevant for value investors.

Furthermore, the company's dividend yield is reported at 1.09%, with a notable dividend growth of 4.55% in the last twelve months as of Q1 2024. This aligns with one of the InvestingPro Tips, highlighting that Pentair has raised its dividend for 4 consecutive years, signaling potential reliability in its dividend payments. Additionally, the company has maintained dividend payments for an impressive 49 consecutive years, which can be an attractive feature for income-focused investors.

For those seeking deeper insights, there are additional InvestingPro Tips available, such as the fact that Pentair has been profitable over the last twelve months and is expected to remain profitable this year. Moreover, the stock has experienced a large price uptick over the last six months, with a 34.91% total return in that period. These metrics could be particularly interesting to investors considering the recent insider transactions and the overall financial health of the company.

Investors interested in a more comprehensive analysis can explore further with InvestingPro, which offers numerous additional tips for a complete investment picture. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to the full suite of insights that InvestingPro has to offer.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.