Envestnet Asset Management Inc. Sells 75,817 Shares of Pentair plc (NYSE:PNR)

Envestnet Asset Management Inc. trimmed its stake in Pentair plc (NYSE:PNR - Free Report) by 27.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,143 shares of the industrial products company's stock after selling 75,817 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Pentair worth $17,771,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNR. Norges Bank purchased a new position in shares of Pentair during the 4th quarter valued at about $36,568,000. Asset Management One Co. Ltd. lifted its holdings in Pentair by 4.8% in the first quarter. Asset Management One Co. Ltd. now owns 75,337 shares of the industrial products company's stock valued at $6,590,000 after acquiring an additional 3,476 shares during the last quarter. Fifth Third Bancorp lifted its stake in Pentair by 6.6% during the first quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock worth $356,000 after purchasing an additional 253 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Pentair by 31.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,453 shares of the industrial products company's stock worth $390,000 after acquiring an additional 1,067 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in Pentair by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 32,225 shares of the industrial products company's stock valued at $3,243,000 after buying an additional 191 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Performance

NYSE:PNR opened at $106.71 on Friday. The company has a market capitalization of $17.56 billion, a PE ratio of 27.57, a P/E/G ratio of 2.03 and a beta of 1.09. The company has a 50 day simple moving average of $100.80 and a two-hundred day simple moving average of $95.31. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.89. Pentair plc has a fifty-two week low of $74.25 and a fifty-two week high of $110.71.

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, beating the consensus estimate of $1.01 by $0.10. Pentair had a return on equity of 21.24% and a net margin of 15.87%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $988.38 million. During the same period last year, the business earned $0.94 EPS. Research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given 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 yield of 0.94%. Pentair's payout ratio is 25.84%.

Insiders Place Their Bets

In other news, Director David A. /Wi Jones sold 6,558 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director directly owned 26,313 shares of the company's stock, valued at approximately $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PNR has been the subject of several recent research reports. Royal Bank Of Canada increased 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. Baird R W upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Mizuho set a $100.00 price objective on shares of Pentair in a research report on Tuesday, April 22nd. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the stock a "neutral" rating in a research note on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $109.43.

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.

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