Zurcher Kantonalbank Zurich Cantonalbank Has $39.53 Million Stake in Pentair plc (NYSE:PNR)

Key Points

• Zurcher Kantonalbank reduced its stake in Pentair plc by 1.8% in the first quarter, resulting in ownership of 451,850 shares valued at approximately $39.53 million.
• Several large investors, including FMR LLC and Northern Trust Corp, have increased their holdings in Pentair, indicating strong institutional interest in the company's stock.
• Pentair announced a quarterly dividend of $0.25 per share, with an annualized yield of 0.97%, reflecting a payout ratio of 27.32%.

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Pentair plc (NYSE:PNR - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,850 shares of the industrial products company's stock after selling 8,257 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.27% of Pentair worth $39,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parvin Asset Management LLC bought a new stake in Pentair during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Pentair during the first quarter worth approximately $28,000. Colonial Trust Co SC boosted its holdings in 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. NBC Securities Inc. bought a new stake in Pentair during the first quarter worth approximately $33,000. Finally, North Capital Inc. purchased a new stake in shares of Pentair in the 1st quarter valued at approximately $38,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Up 1.1%

Shares of Pentair stock traded up $1.09 during midday trading on Thursday, reaching $102.39. 562,829 shares of the company's stock traded hands, compared to its average volume of 1,557,837. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.96 and a beta of 1.09. The company's 50 day simple moving average is $101.79 and its 200 day simple moving average is $95.56. 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 released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.06. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. Pentair had a net margin of 14.86% and a return on equity of 21.62%. Pentair's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. Equities analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. Pentair's dividend payout ratio is currently 27.32%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PNR shares. Citigroup restated a "buy" rating and issued a $125.00 price target (up previously from $99.00) on shares of Pentair in a research report on Monday, July 14th. Robert W. Baird upped their price target on shares of Pentair from $107.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on shares of Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the company a "neutral" rating in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Pentair has a consensus rating of "Moderate Buy" and a consensus price target of $114.36.

About Pentair

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.