Bank of America Corp DE reduced its stake in Pentair plc (NYSE:PNR - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 610,391 shares of the industrial products company's stock after selling 101,477 shares during the quarter. Bank of America Corp DE owned 0.37% of Pentair worth $61,430,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of Pentair by 26.0% during the 4th quarter. BNP Paribas Financial Markets now owns 384,651 shares of the industrial products company's stock valued at $38,711,000 after acquiring an additional 79,357 shares during the period. Aptus Capital Advisors LLC lifted its stake in Pentair by 14.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 2,353 shares of the industrial products company's stock valued at $237,000 after purchasing an additional 303 shares during the last quarter. Ancora Advisors LLC grew its holdings in Pentair by 1.0% during the fourth quarter. Ancora Advisors LLC now owns 22,138 shares of the industrial products company's stock valued at $2,228,000 after purchasing an additional 228 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Pentair by 4.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,352 shares of the industrial products company's stock worth $1,142,000 after buying an additional 494 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Pentair in the fourth quarter valued at $12,975,000. Institutional investors own 92.37% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on PNR shares. JPMorgan Chase & Co. raised Pentair from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $90.00 to $113.00 in a report on Friday. Stifel Nicolaus reduced their target price on shares of Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. StockNews.com upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Barclays boosted their target price on shares of Pentair from $110.00 to $111.00 and gave the company an "overweight" rating in a report 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 company. According to data from MarketBeat.com, Pentair has an average rating of "Buy" and a consensus price target of $107.14.
Read Our Latest Report on PNR
Pentair Price Performance
Shares of Pentair stock traded up $3.31 on Friday, hitting $101.12. 1,558,868 shares of the company traded hands, compared to its average volume of 1,501,981. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. 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 company has a market cap of $16.64 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.87 and a beta of 1.11. The firm's 50-day simple moving average is $87.27 and its 200 day simple moving average is $96.44.
Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same quarter in the previous year, the company posted $0.94 earnings per share. Analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.
Pentair Announces Dividend
The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Pentair's payout ratio is 25.84%.
Insider Activity
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 completion of the sale, the director now directly owns 26,313 shares of the company's stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.45% of the stock is owned by corporate insiders.
About Pentair
(
Free Report)
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.
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