Janney Montgomery Scott LLC cut its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 15.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,903 shares of the industrial products company's stock after selling 21,900 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of Pentair worth $10,664,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in PNR. Vanguard Group Inc. grew its holdings in Pentair by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company's stock worth $2,034,575,000 after acquiring an additional 148,031 shares in the last quarter. FMR LLC lifted its position in shares of Pentair by 7.0% during the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock worth $614,030,000 after purchasing an additional 396,581 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Pentair by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company's stock worth $410,240,000 after purchasing an additional 87,244 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pentair by 6.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,468,651 shares of the industrial products company's stock valued at $349,085,000 after buying an additional 217,867 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Pentair by 27.9% in the fourth quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock valued at $197,482,000 after buying an additional 428,184 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Pentair 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 now owns 26,313 shares in the company, valued at approximately $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 accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on PNR shares. Stifel Nicolaus decreased their price target on Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wall Street Zen upgraded Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Citigroup cut their price objective on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group reduced 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, Mizuho set a $100.00 target price on shares of Pentair in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Pentair presently has an average rating of "Buy" and a consensus target price of $107.14.
Check Out Our Latest Research Report on PNR
Pentair Stock Performance
Shares of NYSE PNR traded up $0.25 during midday trading on Friday, reaching $97.19. 2,422,324 shares of the company were exchanged, compared to its average volume of 1,494,125. The stock has a market cap of $15.99 billion, a P/E ratio of 25.11, a PEG ratio of 1.86 and a beta of 1.10. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The stock has a fifty day simple moving average of $93.97 and a 200 day simple moving average of $95.40. The company has a current ratio of 1.89, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51.
Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping 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 firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.38 million. During the same period last year, the company earned $0.94 earnings per share. On average, research analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.
Pentair Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Pentair's dividend payout ratio (DPR) is 25.84%.
Pentair Company Profile
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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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