Swedbank AB Has $72.59 Million Stake in Pentair plc $PNR

Key Points

• Swedbank AB cut its stake in Pentair by 26.8% in Q4, holding 697,005 shares worth $72.59 million (about 0.43% of the company) after selling 255,724 shares.
• Pentair beat quarterly estimates, reporting $1.22 EPS vs. $1.17 expected and $1.04B revenue vs. $1.03B, and announced a $0.27 quarterly dividend ($1.08 annual, ~1.3% yield).
• Wall Street trimmed targets on Pentair and the consensus rating is now "Hold" with a $107.86 target; institutional investors own 92.37% of the stock while insiders have recently reduced their positions.

Swedbank AB reduced its stake in Pentair plc (NYSE:PNR - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 697,005 shares of the industrial products company's stock after selling 255,724 shares during the quarter. Swedbank AB owned approximately 0.43% of Pentair worth $72,586,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wexford Capital LP bought a new position in shares of Pentair in the third quarter valued at approximately $26,000. Richardson Financial Services Inc. boosted its holdings in shares of Pentair by 64.9% during the 3rd quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company's stock worth $28,000 after buying an additional 98 shares during the period. Root Financial Partners LLC acquired a new position in Pentair in the 3rd quarter valued at $41,000. CoreCap Advisors LLC grew its stake in Pentair by 58.8% in the 3rd quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company's stock valued at $45,000 after buying an additional 150 shares during the last quarter. Finally, Clearstead Advisors LLC raised its holdings in Pentair by 86.4% in the 3rd quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company's stock worth $49,000 after acquiring an additional 204 shares during the period. Institutional investors own 92.37% of the company's stock.

Pentair Stock Performance

NYSE:PNR opened at $80.05 on Thursday. The firm's 50-day moving average is $89.63 and its 200-day moving average is $99.38. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.32 and a beta of 1.10. 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 52-week low of $77.02 and a 52-week high of $113.95.

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

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. Pentair's payout ratio is currently 26.47%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PNR. Seaport Research Partners decreased their price target on shares of Pentair from $130.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Stifel Nicolaus cut their price objective on Pentair from $110.00 to $103.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Oppenheimer decreased their target price on Pentair from $122.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. Bank of America lowered their target price on Pentair from $100.00 to $88.00 and set an "underperform" rating on the stock in a report on Monday, April 20th. Finally, Barclays dropped their price target on Pentair from $95.00 to $92.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $107.86.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 6,493 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $103.22, for a total transaction of $670,207.46. Following the completion of the transaction, the executive vice president directly owned 29,096 shares of the company's stock, valued at approximately $3,003,289.12. This trade represents a 18.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael T. Speetzen sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $99.99, for a total transaction of $699,930.00. Following the sale, the director directly owned 8,290 shares of the company's stock, valued at approximately $828,917.10. The trade was a 45.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.26% of the company's stock.

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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