Envestnet Asset Management Inc. Trims Stock Holdings in Pentair plc (NYSE:PNR)

Envestnet Asset Management Inc. trimmed its holdings in Pentair plc (NYSE:PNR) by 13.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 278,960 shares of the industrial products company’s stock after selling 45,201 shares during the period. Envestnet Asset Management Inc.’s holdings in Pentair were worth $28,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Pentair by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock valued at $2,034,575,000 after acquiring an additional 148,031 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Pentair by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock worth $410,240,000 after purchasing an additional 87,244 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Pentair by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock worth $101,653,000 after purchasing an additional 7,434 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock valued at $89,390,000 after buying an additional 357,523 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Pentair by 219.0% during the fourth quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock valued at $60,863,000 after buying an additional 415,163 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on PNR shares. Citigroup decreased their target price on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Barclays reduced their price target on shares of Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.27.

Pentair Price Performance

Shares of PNR opened at $82.03 on Friday. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The stock’s fifty day moving average is $89.54 and its 200-day moving average is $97.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The firm has a market capitalization of $13.52 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.

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

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Pentair’s dividend payout ratio (DPR) is 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.