Handelsbanken Fonder AB Lowers Holdings in Pentair plc (NYSE:PNR)

Handelsbanken Fonder AB lessened its stake in Pentair plc (NYSE:PNR) by 3.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,600 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Pentair were worth $2,443,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC raised its position in Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after buying an additional 154 shares during the last quarter. Assetmark Inc. raised its position in 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 buying an additional 346 shares during the last quarter. Quent Capital LLC raised its position in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares during the last quarter. IFP Advisors Inc raised its position in Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after buying an additional 202 shares during the last quarter. Finally, Baystate Wealth Management LLC purchased a new position in Pentair in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. KeyCorp boosted their target price on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Stifel Nicolaus upped their price target on shares of Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Oppenheimer upped their price target on shares of Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group upped their price target on shares of Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America raised shares of Pentair from an “underperform” rating to a “neutral” rating and upped their price target for the company from $46.00 to $76.00 in a research report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair Trading Up 1.0 %

PNR stock opened at $79.96 on Friday. Pentair plc has a 1-year low of $53.88 and a 1-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. 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 business has a 50 day simple moving average of $80.35 and a two-hundred day simple moving average of $71.89.

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

Pentair Dividend Announcement

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

Pentair 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.