Pentair plc $PNR Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc trimmed its Pentair stake by 4.2% in the fourth quarter, selling 48,586 shares and leaving it with 1,118,768 shares worth about $116.5 million.
• Pentair’s latest quarterly results beat Wall Street expectations, with EPS of $1.22 versus $1.17 expected and revenue of $1.04 billion versus $1.03 billion estimated.
• The company also announced a quarterly dividend of $0.27 per share, payable August 7, which annualizes to $1.08 and yields about 1.5%.

Legal & General Group Plc lowered its position in shares of Pentair plc (NYSE:PNR - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,118,768 shares of the industrial products company's stock after selling 48,586 shares during the quarter. Legal & General Group Plc owned approximately 0.68% of Pentair worth $116,508,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Moors & Cabot Inc. boosted its position in Pentair by 0.9% during the third quarter. Moors & Cabot Inc. now owns 11,006 shares of the industrial products company's stock worth $1,219,000 after acquiring an additional 100 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Pentair by 1.2% in the 3rd quarter. Private Advisor Group LLC now owns 8,888 shares of the industrial products company's stock valued at $984,000 after purchasing an additional 105 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Pentair by 0.3% in the 2nd quarter. Captrust Financial Advisors now owns 38,135 shares of the industrial products company's stock valued at $3,915,000 after purchasing an additional 107 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Pentair by 4.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,870 shares of the industrial products company's stock valued at $315,000 after purchasing an additional 110 shares during the last quarter. Finally, Plan A Wealth LLC boosted its holdings in shares of Pentair by 6.0% in the 4th quarter. Plan A Wealth LLC now owns 2,009 shares of the industrial products company's stock valued at $209,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Pentair from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. TD Cowen dropped their price target on shares of Pentair from $90.00 to $75.00 and set a "sell" rating on the stock in a research note on Wednesday, April 29th. Robert W. Baird set a $110.00 price target on shares of Pentair in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Pentair from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Bank of America dropped their price target on shares of Pentair from $100.00 to $88.00 and set an "underperform" rating on the stock in a research note on Monday, April 20th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $107.86.

Pentair Price Performance

Shares of PNR stock opened at $71.33 on Friday. The firm has a market cap of $11.53 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.23 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. Pentair plc has a 1-year low of $70.59 and a 1-year high of $113.95. The firm has a fifty day moving average of $83.17 and a two-hundred day moving average of $95.56.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.11 EPS. As a group, research analysts anticipate that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Pentair's dividend payout ratio (DPR) is currently 26.47%.

Pentair Profile

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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