BNP Paribas Financial Markets Reduces Stake in Pentair plc (NYSE:PNR)

BNP Paribas Financial Markets cut its position in Pentair plc (NYSE:PNR - Free Report) by 33.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,822 shares of the industrial products company's stock after selling 54,652 shares during the quarter. BNP Paribas Financial Markets owned 0.07% of Pentair worth $7,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 346 shares in the last quarter. Lindbrook Capital LLC grew its stake in Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 154 shares in the last quarter. Quent Capital LLC increased its holdings in Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company's stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Pentair in the 3rd quarter valued at approximately $34,000. Finally, Rational Advisors LLC acquired a new position in shares of Pentair in the 3rd quarter valued at approximately $41,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNR has been the subject of a number of research analyst reports. BNP Paribas assumed coverage on shares of Pentair in a research note on Tuesday, March 12th. They issued a "neutral" rating and a $86.00 price target for the company. Citigroup increased their price target on shares of Pentair from $85.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Mizuho boosted their price objective on Pentair from $82.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, March 7th. TD Cowen increased their target price on Pentair from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Finally, KeyCorp boosted their price target on Pentair from $82.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.93.

Pentair Stock Performance

NYSE PNR traded up $0.36 on Friday, hitting $83.95. The stock had a trading volume of 802,664 shares, compared to its average volume of 1,496,866. The company's 50-day moving average is $81.89 and its two-hundred day moving average is $74.22. Pentair plc has a one year low of $55.26 and a one year high of $85.84. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm earned $0.91 EPS. The firm's revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Pentair plc will post 4.24 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. Pentair's dividend payout ratio is presently 24.47%.

Pentair Company 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.