New York State Teachers Retirement System cut its position in Pentair plc (NYSE:PNR - Free Report) by 2.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,248 shares of the industrial products company's stock after selling 4,201 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Pentair worth $13,319,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Pentair in the fourth quarter valued at about $55,000. Smartleaf Asset Management LLC boosted its holdings in Pentair by 55.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 287 shares during the period. Jones Financial Companies Lllp boosted its holdings in Pentair by 542.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,085 shares of the industrial products company's stock valued at $109,000 after purchasing an additional 916 shares during the period. Assetmark Inc. increased its holdings in shares of Pentair by 69.6% during the fourth quarter. Assetmark Inc. now owns 2,237 shares of the industrial products company's stock worth $225,000 after purchasing an additional 918 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Pentair by 1.1% during the fourth quarter. Arizona State Retirement System now owns 48,068 shares of the industrial products company's stock worth $4,838,000 after purchasing an additional 502 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction 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 sale, the director directly owned 26,313 shares in the company, valued at $2,366,591.22. The trade was a 19.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.45% of the company's stock.
Pentair Stock Up 1.0%
Shares of NYSE:PNR traded up $1.01 during trading on Friday, reaching $106.87. 1,008,548 shares of the stock were exchanged, compared to its average volume of 1,465,963. Pentair plc has a 1-year low of $74.25 and a 1-year high of $110.71. The stock has a fifty day moving average of $98.20 and a two-hundred day moving average of $94.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.22. The firm has a market cap of $17.58 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09.
Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $988.38 million. Pentair had a net margin of 15.87% and a return on equity of 21.24%. During the same quarter last year, the firm earned $0.94 EPS. Research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.
Pentair Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid 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 dividend yield of 0.94%. Pentair's payout ratio is presently 25.84%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group set a $95.00 price target on Pentair and gave the stock a "neutral" rating in a research report on Tuesday, April 22nd. Robert W. Baird reduced their target price on Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Mizuho set a $100.00 price target on Pentair in a research report on Tuesday, April 22nd. UBS Group cut their price objective on shares of Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Baird R W raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Pentair presently has an average rating of "Buy" and an average target price of $107.14.
Check Out Our Latest Stock Report on PNR
About Pentair
(
Free Report)
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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