abrdn plc Sells 21,517 Shares of Pentair plc (NYSE:PNR)

abrdn plc lessened its position in Pentair plc (NYSE:PNR) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 701,703 shares of the industrial products company’s stock after selling 21,517 shares during the quarter. abrdn plc owned approximately 0.42% of Pentair worth $70,640,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP raised its holdings in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 294 shares in the last quarter. Blue Trust Inc. grew its position in Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares in the last quarter. Eastern Bank increased its stake in Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after buying an additional 300 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in Pentair during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PNR shares. Barclays raised their price objective on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Oppenheimer raised their price target on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. The Goldman Sachs Group increased their price objective on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average target price of $111.07.

Pentair Price Performance

Shares of NYSE PNR opened at $98.28 on Wednesday. The firm has a market cap of $16.24 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.65 and a beta of 1.20. The business’s 50 day moving average is $103.51 and its 200-day moving average is $97.10. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Pentair plc has a 1-year low of $72.03 and a 1-year high of $110.71.

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 analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. Pentair’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. This is an increase from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio is currently 25.00%.

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.