Pentair plc $PNR Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG lessened its stake in shares of Pentair plc (NYSE:PNR) by 6.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 103,345 shares of the industrial products company’s stock after selling 7,678 shares during the quarter. Raiffeisen Bank International AG’s holdings in Pentair were worth $10,932,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Andra AP fonden lifted its holdings in shares of Pentair by 73.5% in the fourth quarter. Andra AP fonden now owns 206,000 shares of the industrial products company’s stock valued at $21,453,000 after purchasing an additional 87,300 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Pentair by 7.5% in the fourth quarter. Principal Securities Inc. now owns 7,039 shares of the industrial products company’s stock valued at $733,000 after purchasing an additional 490 shares in the last quarter. Aviva PLC lifted its holdings in shares of Pentair by 5.2% in the fourth quarter. Aviva PLC now owns 282,072 shares of the industrial products company’s stock valued at $29,375,000 after purchasing an additional 13,957 shares in the last quarter. Investment Research Partners LLC lifted its holdings in shares of Pentair by 8.9% in the fourth quarter. Investment Research Partners LLC now owns 3,043 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 249 shares in the last quarter. Finally, Nuveen LLC lifted its holdings in shares of Pentair by 4.7% in the fourth quarter. Nuveen LLC now owns 460,429 shares of the industrial products company’s stock valued at $47,949,000 after purchasing an additional 20,750 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Barclays dropped their price target on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Robert W. Baird set a $110.00 price target on shares of Pentair in a research note on Wednesday, April 29th. TD Cowen dropped their price target on shares of Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a research note on Wednesday, April 29th. Finally, Bank of America lowered their target price on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $107.86.

Pentair Stock Up 1.6%

PNR stock opened at $72.55 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. Pentair plc has a 52-week low of $69.93 and a 52-week high of $113.95. The company has a 50-day moving average of $80.24 and a two-hundred day moving average of $93.25. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05.

Pentair (NYSE:PNR) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.11 earnings per share. As a group, equities research analysts anticipate that Pentair plc will post 5.35 EPS for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. Pentair’s dividend payout ratio (DPR) is presently 26.47%.

Pentair 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.