Ameriprise Financial Inc. Sells 84,829 Shares of Pentair plc (NYSE:PNR)

Ameriprise Financial Inc. reduced its holdings in Pentair plc (NYSE:PNR - Free Report) by 26.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,097 shares of the industrial products company's stock after selling 84,829 shares during the quarter. Ameriprise Financial Inc. owned about 0.15% of Pentair worth $24,163,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PNR. Smartleaf Asset Management LLC boosted its position in Pentair by 55.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock worth $81,000 after acquiring an additional 287 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Pentair in the fourth quarter valued at $289,000. Norges Bank acquired a new position in Pentair in the fourth quarter valued at $36,568,000. Park Avenue Securities LLC lifted its position in Pentair by 22.2% during the fourth quarter. Park Avenue Securities LLC now owns 23,712 shares of the industrial products company's stock worth $2,386,000 after buying an additional 4,308 shares during the period. Finally, Q3 Asset Management purchased a new stake in Pentair in the 4th quarter valued at about $320,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNR has been the topic of several research analyst reports. Mizuho set a $100.00 target price on shares of Pentair in a research report on Tuesday, April 22nd. Robert W. Baird dropped their price objective on Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Pentair from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $90.00 to $113.00 in a report on Friday. StockNews.com raised shares of Pentair from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Citigroup dropped their price target 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. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Pentair has a consensus rating of "Buy" and a consensus target price of $107.14.

Pentair Stock Performance

Shares of PNR stock traded down $0.21 during trading hours on Tuesday, reaching $100.61. 92,043 shares of the company's stock were exchanged, compared to its average volume of 1,572,696. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $16.55 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.87 and a beta of 1.11. The business has a fifty day moving average price of $87.87 and a 200-day moving average price of $96.43. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.10. The company 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 quarter in the prior year, the company posted $0.94 EPS. Analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, July 18th. Pentair's payout ratio is 25.84%.

Insider Buying and Selling at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction 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. This represents a 19.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.