Wellington Management Group LLP Cuts Stock Position in Pentair plc (NYSE:PNR)

Wellington Management Group LLP reduced its position in shares of Pentair plc (NYSE:PNR - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,624 shares of the industrial products company's stock after selling 13,291 shares during the period. Wellington Management Group LLP owned approximately 0.09% of Pentair worth $15,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in Pentair in the 4th quarter valued at $25,000. Colonial Trust Co SC increased its stake in shares of Pentair by 230.8% in the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 240 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Pentair in the 4th quarter valued at $55,000. Park Square Financial Group LLC bought a new position in shares of Pentair in the 4th quarter valued at $57,000. Finally, Intact Investment Management Inc. bought a new position in shares of Pentair in the 4th quarter valued at $60,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Down 0.1%

Shares of Pentair stock traded down $0.14 on Thursday, hitting $99.70. The company had a trading volume of 128,312 shares, compared to its average volume of 1,496,647. The stock has a market capitalization of $16.40 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 1.87 and a beta of 1.10. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The stock has a 50 day moving average of $90.41 and a 200-day moving average of $96.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.10. The company 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 20.94% and a net margin of 15.32%. During the same period last year, the business posted $0.94 earnings per share. As a group, sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

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

Insider Buying and Selling at Pentair

In other news, Director David A. /Wi Jones sold 6,558 shares of the firm's stock in a transaction on 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 now directly owns 26,313 shares of the company's stock, valued at $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PNR. Stifel Nicolaus reduced their price objective on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. upgraded Pentair from a "neutral" rating to an "overweight" rating and upped their price target for the company from $90.00 to $113.00 in a research report on Friday, May 16th. Barclays upped their price target on Pentair from $110.00 to $111.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Finally, UBS Group reduced their price target on Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Pentair currently has a consensus rating of "Buy" and an average target price 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.