Bank Julius Baer & Co. Ltd Zurich Sells 17,012 Shares of Pentair plc $PNR

Key Points

• Bank Julius Baer & Co. cut its Pentair stake by 83.6% in the third quarter, selling 17,012 shares and retaining 3,348 shares valued at about $177,000.
• Pentair reported quarterly earnings of $1.18 per share, above the $1.07 analyst consensus, and revenue of $976.4 million, also beating estimates; revenue nevertheless fell 4.5% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $76.59. Pentair also declared a quarterly dividend of $0.27 per share.

Bank Julius Baer & Co. Ltd Zurich reduced its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 83.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,348 shares of the industrial products company's stock after selling 17,012 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Pentair were worth $177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust purchased a new position in Pentair during the third quarter worth $219,000. State of Wyoming purchased a new stake in shares of Pentair in the third quarter valued at $368,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Pentair in the third quarter valued at $593,000. Livelsberger Financial Advisory purchased a new stake in shares of Pentair in the third quarter valued at $40,000. Finally, Childress Capital Advisors LLC bought a new stake in shares of Pentair in the 3rd quarter worth about $209,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Price Performance

PNR opened at $69.78 on Friday. Pentair plc has a 12-month low of $51.13 and a 12-month high of $109.89. The company has a current ratio of 1.47, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38. The business's fifty day simple moving average is $57.33 and its 200-day simple moving average is $75.75. The company has a market capitalization of $11.14 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.69 and a beta of 1.01.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.11. The company had revenue of $976.40 million during the quarter, compared to the consensus estimate of $963.71 million. Pentair had a net margin of 15.44% and a return on equity of 20.10%. Pentair's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. On average, equities research analysts anticipate that Pentair plc will post 4.70 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.5%. Pentair's payout ratio is presently 28.65%.

Analysts Set New Price Targets

Several brokerages recently commented on PNR. Seaport Research Partners downgraded shares of Pentair from a "buy" rating to a "neutral" rating in a report on Wednesday, July 15th. Mizuho decreased their price objective on shares of Pentair from $85.00 to $65.00 and set an "outperform" rating for the company in a research note on Thursday, October 15th. UBS Group set a $65.00 target price on Pentair in a research report on Wednesday, October 28th. TD Cowen raised Pentair from a "sell" rating to a "hold" rating and cut their target price for the company from $65.00 to $55.00 in a research note on Wednesday, October 14th. Finally, Jefferies Financial Group raised Pentair to a "strong-buy" rating in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $76.59.

Pentair Profile

Pentair plc NYSE: PNR is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.

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