California State Teachers Retirement System Sells 19,514 Shares of Pentair plc (NYSE:PNR)

California State Teachers Retirement System decreased its stake in Pentair plc (NYSE:PNR) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,395 shares of the industrial products company’s stock after selling 19,514 shares during the quarter. California State Teachers Retirement System’s holdings in Pentair were worth $24,898,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Northern Trust Corp boosted its stake in shares of Pentair by 27.9% in the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock valued at $197,482,000 after purchasing an additional 428,184 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Pentair by 219.0% during the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock valued at $60,863,000 after purchasing an additional 415,163 shares during the last quarter. FMR LLC boosted its position in Pentair by 7.0% in the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock valued at $614,030,000 after buying an additional 396,581 shares in the last quarter. Norges Bank acquired a new position in Pentair in the fourth quarter valued at about $36,568,000. Finally, Allianz Asset Management GmbH grew 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 buying an additional 357,523 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Up 0.9%

Shares of NYSE PNR opened at $99.65 on Friday. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The firm’s 50-day moving average is $89.61 and its 200-day moving average is $96.26. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $16.40 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.10. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. During the same period in the prior year, the business posted $0.94 earnings per share. Equities analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. Pentair’s dividend payout ratio is currently 25.84%.

Insider Buying and Selling

In related news, Director David A. /Wi Jones sold 6,558 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $89.94, for a total value of $589,826.52. Following the completion of the sale, the director now owns 26,313 shares in the company, valued at $2,366,591.22. This represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the company a “neutral” rating in a research note on Tuesday, April 22nd. Barclays lifted their price objective on Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Robert W. Baird reduced their price objective on Pentair from $114.00 to $107.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Pentair from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $113.00 in a research note on Friday, May 16th. Finally, Stifel Nicolaus cut their price target on Pentair from $125.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pentair currently has an average rating of “Buy” and a consensus price target of $107.14.

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.