Swedbank AB Has $72.59 Million Holdings in Pentair plc $PNR

Swedbank AB lowered its stake in Pentair plc (NYSE:PNR) by 26.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 697,005 shares of the industrial products company’s stock after selling 255,724 shares during the period. Swedbank AB’s holdings in Pentair were worth $72,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNR. Ameriprise Financial Inc. lifted its position in shares of Pentair by 106.7% in the third quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock worth $358,521,000 after buying an additional 1,670,944 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Pentair by 1,690.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock worth $75,987,000 after buying an additional 688,921 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Pentair by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after buying an additional 647,162 shares during the last quarter. 140 Summer Partners LP acquired a new stake in shares of Pentair in the third quarter worth about $60,752,000. Finally, AQR Capital Management LLC lifted its position in shares of Pentair by 43.0% in the third quarter. AQR Capital Management LLC now owns 1,472,500 shares of the industrial products company’s stock worth $161,754,000 after buying an additional 442,534 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Transactions at Pentair

In related news, EVP Philip M. Rolchigo sold 6,493 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $103.22, for a total transaction of $670,207.46. Following the transaction, the executive vice president directly owned 29,096 shares in the company, valued at $3,003,289.12. The trade was a 18.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.26% of the stock is owned by corporate insiders.

Pentair Trading Up 0.7%

Pentair stock opened at $74.93 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88. The business’s 50-day simple moving average is $84.42 and its 200-day simple moving average is $96.59. The firm has a market capitalization of $12.11 billion, a PE ratio of 18.36, a PEG ratio of 1.27 and a beta of 1.10. Pentair plc has a 52 week low of $70.73 and a 52 week high of $113.95.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.11 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts forecast that Pentair plc will post 5.36 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, July 24th. Pentair’s payout ratio is currently 26.47%.

Analyst Ratings Changes

A number of research firms have recently commented on PNR. Weiss Ratings lowered Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Royal Bank Of Canada dropped their price objective on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. TD Cowen dropped their price objective on Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a research note on Wednesday, April 29th. Bank of America dropped their price objective on Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Finally, Citigroup dropped their price objective on Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.86.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.