Swedbank AB Sells 472,859 Shares of Pentair plc $PNR

Swedbank AB lessened its holdings in Pentair plc (NYSE:PNR) by 67.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 224,146 shares of the industrial products company’s stock after selling 472,859 shares during the period. Swedbank AB owned 0.14% of Pentair worth $19,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Moors & Cabot Inc. increased its holdings in shares of Pentair by 0.9% in the third quarter. Moors & Cabot Inc. now owns 11,006 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 100 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Pentair by 71.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock worth $26,000 after buying an additional 105 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Pentair by 1.2% during the 3rd quarter. Private Advisor Group LLC now owns 8,888 shares of the industrial products company’s stock worth $984,000 after buying an additional 105 shares during the period. Captrust Financial Advisors grew its stake in Pentair by 0.3% in the 2nd quarter. Captrust Financial Advisors now owns 38,135 shares of the industrial products company’s stock valued at $3,915,000 after buying an additional 107 shares during the last quarter. Finally, Plan A Wealth LLC grew its stake in Pentair by 6.0% in the 4th quarter. Plan A Wealth LLC now owns 2,009 shares of the industrial products company’s stock valued at $209,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PNR. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Oppenheimer decreased their target price on Pentair from $122.00 to $115.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 target price (down from $135.00) on shares of Pentair in a research note on Tuesday, March 31st. Barclays reduced their price target on Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Finally, Bank of America decreased their price objective on Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $107.86.

Pentair Stock Performance

PNR opened at $74.66 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. Pentair plc has a 52-week low of $69.93 and a 52-week high of $113.95. The firm has a market cap of $12.07 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.03. The business’s fifty day moving average is $74.65 and its 200-day moving average is $89.06.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. Pentair’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Announces Dividend

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

Pentair Company Profile

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.