Castleark Management LLC Sells 28,090 Shares of Pentair plc (NYSE:PNR)

Castleark Management LLC reduced its position in shares of Pentair plc (NYSE:PNR - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,410 shares of the industrial products company's stock after selling 28,090 shares during the period. Castleark Management LLC's holdings in Pentair were worth $2,557,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNR. Northern Trust Corp raised its position in Pentair by 27.9% during 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 purchasing an additional 428,184 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Pentair by 219.0% during the fourth quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company's stock worth $60,863,000 after buying an additional 415,163 shares during the last quarter. FMR LLC grew its stake in shares of Pentair by 7.0% during the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock worth $614,030,000 after buying an additional 396,581 shares during the last quarter. Norges Bank bought a new stake in shares of Pentair during the fourth quarter worth $36,568,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Pentair by 67.4% during the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock worth $89,390,000 after buying an additional 357,523 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Trading Down 0.9%

Shares of Pentair stock traded down $0.86 during trading on Friday, hitting $96.79. The company's stock had a trading volume of 1,252,440 shares, compared to its average volume of 1,515,297. 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 plc has a 52 week low of $72.63 and a 52 week high of $110.71. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. The stock has a 50-day moving average price of $88.81 and a two-hundred day moving average price of $96.36.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $988.38 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equities research analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Pentair's dividend payout ratio (DPR) is currently 25.84%.

Analyst Upgrades and Downgrades

PNR has been the topic of a number of research reports. Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Stifel Nicolaus decreased their target price on shares of Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird decreased their target price on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada boosted their target price on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Barclays boosted their target price on shares of Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $107.14.

Insider Buying and Selling at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the company's stock in a transaction on 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 approximately $2,366,591.22. This represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.

Pentair Company 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.