Harvest Fund Management Co. Ltd Sells 1,772 Shares of Pentair plc (NYSE:PNR)

Harvest Fund Management Co. Ltd reduced its position in shares of Pentair plc (NYSE:PNR) by 81.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 392 shares of the industrial products company’s stock after selling 1,772 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Pentair were worth $28,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNR. Assetmark Inc. boosted its position in shares of Pentair by 935.1% during the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 346 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Pentair by 97.6% during the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 202 shares during the last quarter. Quent Capital LLC boosted its position in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Finally, Baystate Wealth Management LLC bought a new position in shares of Pentair during the 3rd quarter valued at approximately $30,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Price Performance

Shares of PNR stock opened at $79.96 on Friday. Pentair plc has a 1-year low of $53.88 and a 1-year high of $85.81. The stock’s 50-day moving average is $80.35 and its 200 day moving average is $71.89. The company has a market cap of $13.27 billion, a P/E ratio of 21.27, a PEG ratio of 1.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.23 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s payout ratio is currently 24.47%.

Analysts Set New Price Targets

Several analysts recently weighed in on PNR shares. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, April 15th. Royal Bank of Canada increased their price target on Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. KeyCorp increased their price target on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, Oppenheimer increased their price target on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

Pentair 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.