Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Position in Pentair plc $PNR

Key Points

• Fjarde AP Fonden sharply increased its Pentair stake by 88.7% in the first quarter, bringing its holdings to 75,631 shares worth about $6.6 million.
• Pentair reported better-than-expected quarterly earnings of $1.22 per share on revenue of $1.04 billion, with revenue up 2.6% year over year.
• The company announced a quarterly dividend of $0.27 per share, implying an annualized yield of about 1.4%; analysts currently have a consensus rating of Hold.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 88.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,631 shares of the industrial products company's stock after acquiring an additional 35,550 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Pentair were worth $6,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Avanza Fonder AB boosted its position in shares of Pentair by 142.1% during the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company's stock worth $4,055,000 after purchasing an additional 22,858 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Pentair by 13.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company's stock valued at $274,810,000 after purchasing an additional 305,166 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Pentair by 22.8% in the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company's stock valued at $366,787,000 after purchasing an additional 647,162 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Pentair by 624.2% during the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company's stock worth $37,766,000 after buying an additional 312,574 shares in the last quarter. Finally, Hudson Bay Capital Management LP boosted its holdings in Pentair by 38.2% during the third quarter. Hudson Bay Capital Management LP now owns 132,134 shares of the industrial products company's stock worth $14,635,000 after buying an additional 36,498 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Performance

Shares of PNR opened at $76.74 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The stock has a market cap of $12.40 billion, a P/E ratio of 18.81, a PEG ratio of 1.30 and a beta of 1.03. The company has a 50-day moving average of $75.83 and a two-hundred day moving average of $89.88. Pentair plc has a 12-month low of $69.93 and a 12-month high of $113.95.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.11 earnings per share. The company's quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts predict that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a yield of 1.4%. Pentair's dividend payout ratio (DPR) is presently 26.47%.

Analyst Ratings Changes

PNR has been the subject of a number of research analyst reports. Robert W. Baird set a $110.00 target price on shares of Pentair in a report on Wednesday, April 29th. Barclays decreased their price target on Pentair from $95.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 29th. Seaport Research Partners lowered their price target on Pentair from $130.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. TD Cowen reduced their price objective on Pentair from $90.00 to $75.00 and set a "sell" rating for the company in a report on Wednesday, April 29th. Finally, Bank of America decreased their target price on Pentair from $100.00 to $88.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $107.86.

About Pentair

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.

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