Nuveen Asset Management LLC reduced its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447,586 shares of the industrial products company's stock after selling 51,173 shares during the period. Nuveen Asset Management LLC owned about 0.27% of Pentair worth $45,045,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Independent Advisor Alliance lifted its position in shares of Pentair by 1.4% in the 4th quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company's stock worth $768,000 after buying an additional 103 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Pentair by 11.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company's stock valued at $120,000 after purchasing an additional 118 shares during the last quarter. Richardson Financial Services Inc. lifted its position in Pentair by 16.1% in the 4th quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company's stock valued at $92,000 after purchasing an additional 127 shares during the last quarter. Annex Advisory Services LLC lifted its position in Pentair by 2.9% in the 4th quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 151 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in Pentair by 1.3% in the 4th quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company's stock valued at $1,251,000 after purchasing an additional 161 shares during the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Pentair
In related 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 shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director now directly owns 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 sale 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 insiders.
Analyst Ratings Changes
PNR has been the topic of several recent research reports. Robert W. Baird cut their price objective on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. StockNews.com raised shares of Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Mizuho set a $100.00 target price on shares of Pentair in a research note on Tuesday, April 22nd. Barclays raised their target price on shares of Pentair from $110.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus lowered their target price on shares of Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Two research 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. Based on data from MarketBeat, Pentair currently has a consensus rating of "Buy" and an average price target of $107.14.
Get Our Latest Stock Report on PNR
Pentair Stock Performance
Pentair stock opened at $100.73 on Tuesday. The firm's 50 day simple moving average is $87.87 and its 200-day simple moving average is $96.43. The company has a market cap of $16.57 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.
Pentair (NYSE:PNR - Get Free Report) last released its 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. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period last year, the firm posted $0.94 earnings per share. As a group, equities research analysts predict that Pentair plc will post 4.77 EPS for the current year.
Pentair Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's payout ratio is presently 25.84%.
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.
Further Reading
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