Pentair plc $PNR Holdings Decreased by Swedbank AB

Key Points

• Swedbank AB cut its Pentair stake by 26.8% in the fourth quarter, selling 255,724 shares and leaving it with 697,005 shares worth about $72.6 million.
• Other institutions were mixed but largely active in Pentair, with firms like Avanza Fonder and Nordea increasing holdings, while hedge funds and institutions still own 92.37% of the company.
• Pentair continues to show solid fundamentals: it beat quarterly EPS and revenue estimates, and it declared a $0.27 quarterly dividend, implying a 1.4% annualized yield.

Swedbank AB decreased its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 697,005 shares of the industrial products company's stock after selling 255,724 shares during the quarter. Swedbank AB owned 0.43% of Pentair worth $72,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Avanza Fonder AB grew its holdings in shares of Pentair by 142.1% during the fourth quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company's stock valued at $4,055,000 after buying an additional 22,858 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Pentair by 13.1% during the fourth 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 buying an additional 305,166 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Pentair by 22.8% during the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company's stock valued at $366,787,000 after buying an additional 647,162 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Pentair by 624.2% during the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company's stock valued at $37,766,000 after buying an additional 312,574 shares in the last quarter. Finally, IMC Chicago LLC purchased a new position in shares of Pentair during the third quarter valued at $1,635,000. Hedge funds and other institutional investors own 92.37% of the company's stock.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 6,493 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $103.22, for a total value of $670,207.46. Following the completion of the sale, the executive vice president owned 29,096 shares of the company's stock, valued at $3,003,289.12. The trade was a 18.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings downgraded Pentair from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Robert W. Baird set a $110.00 price target on Pentair in a report on Wednesday, April 29th. Oppenheimer reduced their price objective on Pentair from $122.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 29th. Royal Bank Of Canada reduced their price objective on Pentair from $107.00 to $101.00 and set an "outperform" rating for the company in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus reduced their price objective on Pentair from $110.00 to $103.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $107.86.

Pentair Price Performance

PNR opened at $74.93 on Friday. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.27 and a beta of 1.10. Pentair plc has a 1 year low of $70.73 and a 1 year high of $113.95. 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 fifty day moving average price of $84.42 and a 200 day moving average price of $96.59.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. Analysts forecast that Pentair plc will post 5.36 EPS for the current fiscal year.

Pentair Dividend Announcement

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 $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.4%. Pentair's payout ratio is currently 26.47%.

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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