D.A. Davidson & CO. Cuts Stake in Pentair plc (NYSE:PNR)

D.A. Davidson & CO. reduced its stake in shares of Pentair plc (NYSE:PNR) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,879 shares of the industrial products company’s stock after selling 513 shares during the quarter. D.A. Davidson & CO.’s holdings in Pentair were worth $1,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Pentair by 3.1% in the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after purchasing an additional 259,922 shares in the last quarter. FMR LLC grew its holdings in shares of Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Pentair by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after purchasing an additional 19,853 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Pentair by 11.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,489,715 shares of the industrial products company’s stock valued at $143,823,000 after purchasing an additional 158,433 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Pentair by 17.9% in the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock valued at $132,141,000 after purchasing an additional 205,000 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Down 2.5 %

NYSE:PNR opened at $92.89 on Friday. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The stock has a fifty day simple moving average of $100.54 and a 200-day simple moving average of $98.10. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

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

Pentair Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a $0.25 dividend. This is an increase from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, January 24th. Pentair’s payout ratio is presently 26.74%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Citigroup cut their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday, January 13th. Oppenheimer raised their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wolfe Research began coverage on shares of Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. Finally, KeyCorp reaffirmed a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

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.