Grantham Mayo Van Otterloo & Co. LLC Sells 72,300 Shares of Pentair plc (NYSE:PNR)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in shares of Pentair plc (NYSE:PNR) by 48.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,118 shares of the industrial products company’s stock after selling 72,300 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Pentair were worth $7,761,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Pentair by 0.7% during 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 purchasing an additional 148,031 shares in the last quarter. State Street Corp lifted its position in shares of Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the period. Geode Capital Management LLC boosted its stake in Pentair by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock valued at $410,240,000 after buying an additional 87,244 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 valued at $101,653,000 after acquiring an additional 7,434 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Pentair by 67.4% during the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after acquiring an additional 357,523 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PNR. Stifel Nicolaus lowered their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. 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. Baird R W upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. Finally, Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price objective for the company in a research report on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.27.

Pentair Stock Down 3.5 %

Shares of NYSE:PNR opened at $78.66 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.87 and a beta of 1.13. The company has a 50 day moving average of $92.63 and a 200-day moving average of $98.58. Pentair plc has a one year low of $71.89 and a one year high of $110.71.

Pentair (NYSE:PNR) last issued 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. Pentair had a net margin of 15.32% and a return on equity of 20.94%. 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 company posted $0.87 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Pentair’s payout ratio is currently 26.74%.

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.