Pentair plc (NYSE:PNR) Stock Holdings Trimmed by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in shares of Pentair plc (NYSE:PNR) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,373 shares of the industrial products company’s stock after selling 156 shares during the period. Kentucky Retirement Systems’ holdings in Pentair were worth $1,145,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNR. State Street Corp lifted its stake in Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after purchasing an additional 259,922 shares during the last quarter. FMR LLC lifted its position in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after buying an additional 258,134 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pentair by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after buying an additional 19,853 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Pentair by 11.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,489,715 shares of the industrial products company’s stock valued at $143,823,000 after buying an additional 158,433 shares during the last quarter. Finally, Swedbank AB raised its stake in Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after acquiring an additional 205,000 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

PNR opened at $92.89 on Monday. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The business has a 50 day moving average price of $100.54 and a two-hundred day moving average price of $98.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. During the same period in the previous year, the company earned $0.87 earnings per share. Pentair’s revenue was down 1.2% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.08%. Pentair’s dividend payout ratio is currently 26.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PNR shares. Wolfe Research started coverage on Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. 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. Oppenheimer upped their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus cut their price objective on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.25.

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.