Pentair plc (NYSE:PNR) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Pentair plc by 10.7%, acquiring an additional 5,527 shares, bringing its total holdings to 57,265 shares valued at approximately $5.01 million.
• Analysts have raised their price targets for Pentair, with Robert W. Baird increasing their target from $107.00 to $121.00, and Citigroup raising theirs from $99.00 to $125.00, indicating strong market optimism.
• Pentair recently announced a quarterly dividend of $0.25 per share, with the total annualized dividend amounting to $1.00 and a yield of 0.97%.

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,265 shares of the industrial products company's stock after purchasing an additional 5,527 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Pentair were worth $5,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Parvin Asset Management LLC acquired a new position in shares of Pentair during the fourth quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Pentair during the first quarter worth about $28,000. NBC Securities Inc. acquired a new position in shares of Pentair during the first quarter worth about $33,000. Colonial Trust Co SC grew its position in shares of Pentair by 230.8% during the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock worth $35,000 after buying an additional 240 shares in the last quarter. Finally, Horizon Financial Services LLC acquired a new position in shares of Pentair during the first quarter worth about $38,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PNR shares. TD Cowen downgraded Pentair from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $115.00 to $110.00 in a research report on Wednesday, July 23rd. Mizuho upped their price target on Pentair from $118.00 to $122.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Oppenheimer upped their price target on Pentair from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Stifel Nicolaus upped their price target on Pentair from $104.00 to $124.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Robert W. Baird upped their price target on Pentair from $107.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $114.36.

Pentair Price Performance

NYSE:PNR traded up $1.09 during trading hours on Thursday, hitting $102.39. The company's stock had a trading volume of 562,829 shares, compared to its average volume of 1,557,837. The business's 50-day moving average is $101.79 and its two-hundred day moving average is $95.56. The company has a market capitalization of $16.78 billion, a PE ratio of 28.00, a PEG ratio of 1.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.45. Pentair plc has a 52-week low of $74.25 and a 52-week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. Pentair had a return on equity of 21.62% and a net margin of 14.86%. Pentair's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 earnings per share. As a group, research analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's dividend payout ratio (DPR) is 27.32%.

Pentair Company Profile

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.