Clean Energy Transition LLP Trims Stake in Pentair plc $PNR

Key Points

• Clean Energy Transition LLP cut its Pentair stake by 21% in the fourth quarter, selling 65,844 shares and leaving it with 247,161 shares valued at about $25.7 million.
• Pentair’s latest quarterly results beat expectations, posting $1.22 EPS on $1.04 billion in revenue, while revenue rose 2.6% year over year.
• The company also announced a quarterly dividend of $0.27 per share, equal to an annualized yield of about 1.5%; analysts currently have a consensus rating of Hold with an average price target of $107.86.

Clean Energy Transition LLP reduced its position in Pentair plc (NYSE:PNR - Free Report) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,161 shares of the industrial products company's stock after selling 65,844 shares during the quarter. Pentair accounts for approximately 2.1% of Clean Energy Transition LLP's holdings, making the stock its 11th biggest holding. Clean Energy Transition LLP owned approximately 0.15% of Pentair worth $25,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNR. Sivia Capital Partners LLC purchased a new stake in Pentair in the 2nd quarter worth about $222,000. American Century Companies Inc. raised its position in Pentair by 5.8% in the 2nd quarter. American Century Companies Inc. now owns 9,350 shares of the industrial products company's stock worth $960,000 after purchasing an additional 513 shares during the period. Cerity Partners LLC raised its position in Pentair by 27.2% in the 2nd quarter. Cerity Partners LLC now owns 53,959 shares of the industrial products company's stock worth $5,539,000 after purchasing an additional 11,523 shares during the period. Sei Investments Co. raised its position in Pentair by 54.7% in the 2nd quarter. Sei Investments Co. now owns 76,469 shares of the industrial products company's stock worth $7,850,000 after purchasing an additional 27,053 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in shares of Pentair by 101.8% during the second quarter. Treasurer of the State of North Carolina now owns 338,368 shares of the industrial products company's stock worth $34,737,000 after acquiring an additional 170,707 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PNR. Stifel Nicolaus reduced their target price on shares of Pentair from $110.00 to $103.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Robert W. Baird set a $110.00 target price on shares of Pentair in a research report on Wednesday, April 29th. Seaport Research Partners reduced their target price on shares of Pentair from $130.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Bank of America reduced their target price on shares of Pentair from $100.00 to $88.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Finally, TD Cowen reduced their target price on shares of Pentair from $90.00 to $75.00 and set a "sell" rating on the stock in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $107.86.

Pentair Stock Performance

Shares of NYSE:PNR opened at $73.68 on Friday. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. Pentair plc has a 52 week low of $69.93 and a 52 week high of $113.95. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $79.98 and a 200 day moving average of $93.12.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. Pentair's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. On average, sell-side analysts predict that Pentair plc will post 5.35 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 7th. Investors of record on Friday, July 24th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. Pentair's payout ratio is 26.47%.

Pentair Profile

Pentair plc NYSE: PNR is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair's offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.

Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair plc (NYSE:PNR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.