Pentair plc (NYSE:PNR) Shares Sold by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd has significantly reduced its position in Pentair plc by 94.8%, now holding only 516 shares valued at $45,000 after selling 9,375 shares in the first quarter.
• Pentair recently reported earnings of $1.39 per share, exceeding analysts' expectations, and generated $1.12 billion in revenue, a 2.2% increase from the previous year.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of 1.0%, with a current dividend payout ratio of 27.32%.

Harvest Fund Management Co. Ltd reduced its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 94.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 516 shares of the industrial products company's stock after selling 9,375 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Pentair were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strategic Blueprint LLC grew its holdings in shares of Pentair by 2.3% during the first quarter. Strategic Blueprint LLC now owns 5,521 shares of the industrial products company's stock worth $483,000 after buying an additional 123 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Pentair by 5.6% in the first quarter. HB Wealth Management LLC now owns 3,604 shares of the industrial products company's stock worth $315,000 after acquiring an additional 192 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Pentair by 0.7% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 29,930 shares of the industrial products company's stock worth $3,012,000 after acquiring an additional 197 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Pentair by 11.4% in the first quarter. Larson Financial Group LLC now owns 2,016 shares of the industrial products company's stock worth $176,000 after acquiring an additional 207 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Pentair by 5.9% in the first quarter. Wedmont Private Capital now owns 3,759 shares of the industrial products company's stock worth $309,000 after acquiring an additional 209 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Performance

Shares of PNR traded up $1.61 during midday trading on Monday, hitting $102.23. 1,455,788 shares of the stock traded hands, compared to its average volume of 2,067,475. The firm has a market capitalization of $16.76 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.07. The business's 50 day moving average price is $101.95 and its two-hundred day moving average price is $95.50. Pentair plc has a 1-year low of $74.25 and a 1-year high of $110.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.45.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share. Equities research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, July 18th. Pentair's dividend payout ratio is presently 27.32%.

Analyst Upgrades and Downgrades

PNR has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. TD Cowen cut shares of Pentair from a "buy" rating to a "hold" rating and reduced their price target for the company from $115.00 to $110.00 in a research report on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating and set a $125.00 price target (up from $99.00) on shares of Pentair in a research report on Monday, July 14th. Wall Street Zen raised shares of Pentair from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Robert W. Baird boosted their target price on shares of Pentair from $107.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.36.

Pentair 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.