Swiss National Bank Trims Stake in Pentair plc (NYSE:PNR)

Swiss National Bank lowered its stake in shares of Pentair plc (NYSE:PNR) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 467,487 shares of the industrial products company’s stock after selling 25,300 shares during the quarter. Swiss National Bank’s holdings in Pentair were worth $47,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Avantax Advisory Services Inc. boosted its stake in Pentair by 9.8% during the fourth 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 in the last quarter. Farther Finance Advisors LLC boosted its stake in Pentair by 11.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 118 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Pentair by 50.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,456 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 826 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Pentair by 15.1% during the fourth quarter. Wealthfront Advisers LLC now owns 2,580 shares of the industrial products company’s stock worth $260,000 after acquiring an additional 338 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in Pentair by 1.4% during the fourth quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company’s stock worth $768,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PNR shares. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Robert W. Baird upped their target price on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. KeyCorp reiterated a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Finally, Barclays upped their target price 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. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and an average target price of $112.93.

Pentair Stock Up 2.6 %

Shares of PNR stock opened at $86.18 on Monday. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The stock has a market cap of $14.20 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $96.80 and a two-hundred day simple moving average of $98.72.

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

Pentair Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Pentair’s dividend payout ratio is currently 26.74%.

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.