PGGM Investments Sells 95,029 Shares of Pentair plc (NYSE:PNR)

PGGM Investments lowered its stake in Pentair plc (NYSE:PNR) by 43.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 123,685 shares of the industrial products company’s stock after selling 95,029 shares during the quarter. PGGM Investments’ holdings in Pentair were worth $12,448,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PNR. Quarry LP grew its stake in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 294 shares during the period. Eastern Bank grew its position in Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares during the last quarter. Friedenthal Financial bought a new position in shares of Pentair during the 4th quarter worth about $56,000. Finally, Spire Wealth Management acquired a new position in shares of Pentair during the fourth quarter valued at about $64,000. 92.37% of the stock is owned by institutional investors.

Pentair Stock Down 0.6 %

Pentair stock opened at $85.57 on Thursday. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The stock has a market cap of $14.10 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.87 and a beta of 1.23. The company’s 50-day moving average price is $97.73 and its two-hundred day moving average price is $98.74. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. As a group, analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Pentair’s payout ratio is presently 26.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PNR shares. KeyCorp reissued a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Oppenheimer boosted their price target on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus lowered their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Citigroup lowered their target price on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.93.

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.