Pentair plc $PNR Stock Position Trimmed by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC trimmed its Pentair stake by 10.5% in the fourth quarter, selling 174,678 shares and leaving it with 1.49 million shares valued at about $155.5 million.
• Pentair’s latest earnings beat expectations, with EPS of $1.22 versus $1.17 expected and revenue of $1.04 billion, while analysts now expect about $5.36 EPS for the full year.
• The stock has come under pressure from analysts and in the market, with several firms cutting price targets and shares recently trading near $73.44, close to the 52-week low of $72.21.

ProShare Advisors LLC cut its position in Pentair plc (NYSE:PNR - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,493,619 shares of the industrial products company's stock after selling 174,678 shares during the quarter. ProShare Advisors LLC owned about 0.91% of Pentair worth $155,545,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wexford Capital LP bought a new stake in shares of Pentair during the 3rd quarter worth about $26,000. Root Financial Partners LLC bought a new stake in shares of Pentair during the 3rd quarter worth about $41,000. Park Square Financial Group LLC raised its position in shares of Pentair by 502.8% during the 4th quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company's stock worth $44,000 after buying an additional 362 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Pentair by 86.4% during the 3rd quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company's stock worth $49,000 after buying an additional 204 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Pentair during the 2nd quarter worth about $50,000. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNR has been the topic of a number of recent analyst reports. 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 report on Monday, April 20th. Wall Street Zen downgraded shares of Pentair from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Citigroup dropped their price target on shares of Pentair from $112.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Stifel Nicolaus dropped their price target on shares of Pentair from $110.00 to $103.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, Robert W. Baird set a $110.00 price target on shares of Pentair in a research report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $107.86.

Pentair Stock Performance

Shares of PNR opened at $73.44 on Tuesday. The firm's 50 day moving average is $85.82 and its 200-day moving average is $97.45. The stock has a market capitalization of $11.87 billion, a P/E ratio of 18.00, 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 12-month low of $72.21 and a 12-month high of $113.95.

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 (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The business's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. Equities research analysts anticipate that Pentair plc will post 5.36 EPS for the current fiscal year.

Pentair Announces Dividend

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

Insider Activity

In other news, EVP Philip M. Rolchigo sold 6,493 shares of Pentair stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $103.22, for a total value of $670,207.46. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.26% of the stock is owned by corporate insiders.

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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