Sumitomo Mitsui Trust Group Inc. Trims Position in Pentair plc $PNR

Key Points

• Sumitomo Mitsui Trust Group reduced its Pentair stake by 4.3% in the first quarter, selling 17,195 shares and ending with 386,793 shares valued at about $33.7 million.
• Pentair’s latest quarterly earnings beat analyst expectations, reporting $1.22 per share versus $1.17 expected, on revenue of $1.04 billion, up 2.6% year over year.
• The company also announced a quarterly dividend of $0.27 per share, implying an annualized yield of about 1.4% and a payout ratio of 26.47%.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 386,793 shares of the industrial products company's stock after selling 17,195 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Pentair worth $33,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNR. Wexford Capital LP acquired a new position in Pentair during the third quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC grew its position in Pentair by 71.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company's stock worth $26,000 after purchasing an additional 105 shares during the period. Motiv8 Investments LLC purchased a new position in shares of Pentair during the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Pentair during the 4th quarter valued at about $43,000. Finally, Intesa Sanpaolo Wealth Management acquired a new position in shares of Pentair in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird set a $110.00 target price on Pentair in a research note on Wednesday, April 29th. Weiss Ratings downgraded Pentair from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Oppenheimer lowered their price objective on Pentair from $122.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 29th. Jefferies Financial Group reaffirmed a "buy" rating and set a $125.00 target price (down from $135.00) on shares of Pentair in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada decreased their target price on shares of Pentair from $107.00 to $101.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $107.86.

Pentair Price Performance

Pentair stock opened at $76.62 on Tuesday. The stock has a market capitalization of $12.38 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.29 and a beta of 1.03. The company's fifty day moving average price is $74.47 and its 200 day moving average price is $88.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88. Pentair plc has a 1 year low of $69.93 and a 1 year high of $113.95.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.05. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the business posted $1.11 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities 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 declared a quarterly dividend, which will be paid on Friday, August 7th. Investors 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 dividend on an annualized basis and a yield of 1.4%. Pentair's dividend payout ratio (DPR) is currently 26.47%.

Pentair Company 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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