Pentair plc (NYSE:PNR) Shares Sold by PGGM Investments

PGGM Investments lessened its holdings in shares of Pentair plc (NYSE:PNR) by 43.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,685 shares of the industrial products company’s stock after selling 95,029 shares during the period. PGGM Investments owned 0.07% of Pentair worth $12,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. boosted its position in Pentair by 9.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,950 shares of the industrial products company’s stock worth $498,000 after acquiring an additional 440 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Pentair by 11.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 118 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Pentair by 50.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,456 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 826 shares during the period. Wealthfront Advisers LLC grew its position in Pentair by 15.1% in the 4th quarter. Wealthfront Advisers LLC now owns 2,580 shares of the industrial products company’s stock valued at $260,000 after buying an additional 338 shares in the last quarter. Finally, Independent Advisor Alliance grew its position in Pentair by 1.4% in the 4th quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company’s stock valued at $768,000 after buying an additional 103 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Down 0.6 %

PNR stock opened at $85.57 on Thursday. The company’s 50 day simple moving average is $97.73 and its 200-day simple moving average is $98.74. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The firm has a market capitalization of $14.10 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. As a group, equities research analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.17%. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PNR. Barclays upped their price target on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. KeyCorp reaffirmed a “sector weight” rating and set a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Robert W. Baird boosted their price objective on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Oppenheimer upped their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Wolfe Research initiated coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target on the stock. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.93.

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.