New York State Common Retirement Fund Sells 7,600 Shares of Pentair plc (NYSE:PNR)

New York State Common Retirement Fund cut its holdings in Pentair plc (NYSE:PNR) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,396 shares of the industrial products company’s stock after selling 7,600 shares during the period. New York State Common Retirement Fund owned 0.07% of Pentair worth $11,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP increased its stake in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. SJS Investment Consulting Inc. increased 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 worth $34,000 after buying an additional 294 shares in the last quarter. Eastern Bank increased its position in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after buying an additional 300 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares during the period. Finally, Friedenthal Financial purchased a new position in shares of Pentair during the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Oppenheimer increased their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus lowered their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Six research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Stock Down 0.5 %

NYSE PNR opened at $92.49 on Tuesday. The stock has a 50 day moving average price of $100.24 and a 200-day moving average price of $98.28. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company has a market capitalization of $15.28 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings data 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 business had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. During the same quarter last year, the business earned $0.87 earnings per share. Pentair’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a dividend of $0.25 per share. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, January 24th. Pentair’s payout ratio is presently 26.74%.

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.