Pentair plc (NYSE:PNR) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Pentair plc (NYSE:PNR - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,074 shares of the industrial products company's stock after selling 4,356 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Pentair worth $36,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Pentair by 8.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,500 shares of the industrial products company's stock valued at $2,562,000 after purchasing an additional 2,410 shares during the period. Achmea Investment Management B.V. raised its position in Pentair by 93.1% in the first quarter. Achmea Investment Management B.V. now owns 64,808 shares of the industrial products company's stock valued at $5,669,000 after purchasing an additional 31,241 shares during the period. Board of the Pension Protection Fund purchased a new position in Pentair in the first quarter valued at about $534,000. Perpetual Ltd raised its position in Pentair by 12.3% in the first quarter. Perpetual Ltd now owns 150,797 shares of the industrial products company's stock valued at $13,192,000 after purchasing an additional 16,557 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its position in Pentair by 17.2% in the first quarter. Creative Financial Designs Inc. ADV now owns 6,733 shares of the industrial products company's stock valued at $589,000 after purchasing an additional 987 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Stock Up 1.0%

NYSE:PNR traded up $1.01 during mid-day trading on Friday, reaching $106.87. The stock had a trading volume of 1,008,548 shares, compared to its average volume of 1,465,963. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09. Pentair plc has a 1-year low of $74.25 and a 1-year high of $110.71. The stock's 50 day simple moving average is $98.20 and its two-hundred day simple moving average is $94.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.22.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.10. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.38 million. Pentair had a return on equity of 21.24% and a net margin of 15.87%. During the same period last year, the firm earned $0.94 earnings per share. Equities analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. Pentair's dividend payout ratio (DPR) is 25.84%.

Insider Buying and Selling

In related news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the completion of the transaction, the director directly owned 26,313 shares in the company, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

PNR has been the topic of several research reports. Citigroup cut their price objective on Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. UBS Group cut their price objective on Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada raised their price objective on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Mizuho set a $100.00 price objective on Pentair in a research report on Tuesday, April 22nd. Finally, Wall Street Zen raised Pentair from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $107.14.

Pentair 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.