abrdn plc Has $70.64 Million Position in Pentair plc (NYSE:PNR)

abrdn plc lessened its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 701,703 shares of the industrial products company's stock after selling 21,517 shares during the period. abrdn plc owned about 0.42% of Pentair worth $70,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNR. Quarry LP raised its holdings in Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after buying an additional 134 shares during the period. SJS Investment Consulting Inc. increased its holdings in shares of Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 294 shares during the period. Blue Trust Inc. increased its holdings in shares of Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 327 shares during the period. Eastern Bank increased its holdings in shares of Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 300 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of Pentair in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PNR shares. JPMorgan Chase & Co. upped their target price on Pentair from $106.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Stifel Nicolaus dropped their target price on Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, January 24th. StockNews.com downgraded Pentair from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Finally, UBS Group raised their price objective on shares of Pentair from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $111.25.

Pentair Stock Performance

Shares of Pentair stock traded down $0.75 during midday trading on Friday, hitting $97.88. The company had a trading volume of 964,685 shares, compared to its average volume of 1,455,971. The business's 50 day simple moving average is $102.88 and its two-hundred day simple moving average is $97.32. The stock has a market cap of $16.17 billion, a PE ratio of 26.17, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a 1-year low of $72.44 and a 1-year high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.87 earnings per share. As a group, equities analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were paid a $0.25 dividend. This is an increase from Pentair's previous quarterly dividend of $0.23. The ex-dividend date was Friday, January 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Pentair's dividend payout ratio (DPR) is presently 26.74%.

Pentair Company 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.