Pentair plc (NYSE:PNR) Stock Position Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in Pentair plc (NYSE:PNR) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 447,586 shares of the industrial products company’s stock after selling 51,173 shares during the quarter. Nuveen Asset Management LLC’s holdings in Pentair were worth $45,045,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNR. Northern Trust Corp lifted its stake in Pentair by 27.9% in the fourth quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock valued at $197,482,000 after acquiring an additional 428,184 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Pentair by 219.0% in the fourth quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock valued at $60,863,000 after acquiring an additional 415,163 shares during the last quarter. FMR LLC lifted its stake 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 acquiring an additional 396,581 shares during the last quarter. Norges Bank acquired a new stake in Pentair in the fourth quarter valued at approximately $36,568,000. Finally, Allianz Asset Management GmbH lifted its stake in Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock valued at $89,390,000 after acquiring an additional 357,523 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PNR. Barclays lifted their target price on shares of Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. UBS Group reduced their price objective on shares of Pentair from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on shares of Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Robert W. Baird reduced their price objective on shares of Pentair from $114.00 to $107.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pentair has an average rating of “Buy” and an average price target of $107.14.

Pentair Price Performance

NYSE:PNR opened at $100.73 on Tuesday. The stock has a market cap of $16.57 billion, a P/E ratio of 26.93, a PEG ratio of 1.87 and a beta of 1.11. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company has a fifty day moving average price of $87.87 and a 200 day moving average price of $96.43. 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, April 22nd. The industrial products company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.01 by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period in the prior year, the company earned $0.94 EPS. Analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Friday, July 18th. Pentair’s payout ratio is currently 25.84%.

Insider Activity at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the business’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 sale, the director now owns 26,313 shares of the company’s stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

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.