ProShare Advisors LLC Has $193.59 Million Stock Position in Pentair plc (NYSE:PNR)

ProShare Advisors LLC cut its position in shares of Pentair plc (NYSE:PNR - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,923,560 shares of the industrial products company's stock after selling 221,714 shares during the quarter. ProShare Advisors LLC owned approximately 1.16% of Pentair worth $193,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNR. Independent Advisor Alliance boosted its position in shares of Pentair by 1.4% during the 4th quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company's stock valued at $768,000 after acquiring an additional 103 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Pentair by 11.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company's stock valued at $120,000 after buying an additional 118 shares in the last quarter. Richardson Financial Services Inc. grew its position in shares of Pentair by 16.1% during the fourth quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company's stock worth $92,000 after purchasing an additional 127 shares in the last quarter. Annex Advisory Services LLC boosted its stake in Pentair by 2.9% during the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company's stock valued at $540,000 after buying an additional 151 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Pentair by 1.3% during the 4th quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company's stock valued at $1,251,000 after purchasing an additional 161 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pentair

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director now owns 26,313 shares of the company's stock, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Pentair Stock Down 0.5%

PNR stock traded down $0.53 during trading on Tuesday, hitting $100.30. 224,513 shares of the company's stock traded hands, compared to its average volume of 1,574,352. The firm has a market capitalization of $16.50 billion, a P/E ratio of 26.82, a PEG ratio of 1.87 and a beta of 1.11. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $87.87 and a two-hundred day simple moving average of $96.43.

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, topping the consensus estimate of $1.01 by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same period in the previous year, the business earned $0.94 earnings per share. Sell-side analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 1.00%. Pentair's dividend payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PNR shares. Mizuho set a $100.00 price target on shares of Pentair in a report on Tuesday, April 22nd. StockNews.com raised shares of Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. 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. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Finally, Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $107.14.

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.