PGGM Investments Sells 1,845 Shares of Pentair plc (NYSE:PNR)

PGGM Investments cut its stake in shares of Pentair plc (NYSE:PNR) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 393,575 shares of the industrial products company’s stock after selling 1,845 shares during the period. PGGM Investments’ holdings in Pentair were worth $28,617,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Assetmark Inc. lifted its holdings in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 346 shares during the last quarter. Lindbrook Capital LLC increased its position in Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares during the period. IFP Advisors Inc increased its position in Pentair by 97.6% during the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares during the period. Quent Capital LLC increased its position in Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Finally, Baystate Wealth Management LLC purchased a new position in Pentair during the 3rd quarter valued at $30,000. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PNR. TD Cowen upped their target price on shares of Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America raised shares of Pentair from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Mizuho upped their target price on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. KeyCorp upped their target price on shares of Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.93.

Pentair Stock Up 1.0 %

Pentair stock traded up $0.76 during mid-day trading on Friday, reaching $79.96. The stock had a trading volume of 959,329 shares, compared to its average volume of 1,557,437. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.37 and a beta of 1.20. The company has a 50-day moving average price of $80.35 and a two-hundred day moving average price of $71.89. Pentair plc has a one year low of $53.88 and a one year high of $85.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. On average, analysts expect that Pentair plc will post 4.23 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.47%.

Pentair Company Profile

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.