Alliancebernstein L.P. Lowers Stake in Pentair plc (NYSE:PNR)

Alliancebernstein L.P. lessened its stake in Pentair plc (NYSE:PNR - Free Report) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,823,728 shares of the industrial products company's stock after selling 62,772 shares during the quarter. Alliancebernstein L.P. owned approximately 1.71% of Pentair worth $284,180,000 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 the stock. Glenmede Trust Co. NA bought a new stake in Pentair in the third quarter worth $666,000. Public Sector Pension Investment Board raised its position in Pentair by 10.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 7,147 shares of the industrial products company's stock worth $699,000 after purchasing an additional 700 shares during the period. Captrust Financial Advisors lifted its stake in Pentair by 8.8% in the third quarter. Captrust Financial Advisors now owns 38,609 shares of the industrial products company's stock worth $3,776,000 after purchasing an additional 3,129 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Pentair during the third quarter valued at approximately $3,525,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Pentair by 381.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,225 shares of the industrial products company's stock valued at $413,000 after buying an additional 3,348 shares during the last quarter. Institutional investors own 92.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNR. Barclays dropped their price objective on Pentair from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. StockNews.com raised Pentair from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Robert W. Baird raised shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 target price on the stock in a research report on Tuesday, March 25th. KeyCorp restated a "sector weight" rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Finally, Citigroup lowered their target price on shares of Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.27.

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Pentair Price Performance

Shares of NYSE PNR traded down $7.62 during mid-day trading on Thursday, reaching $81.47. The company's stock had a trading volume of 2,114,248 shares, compared to its average volume of 1,466,238. The stock has a 50-day moving average of $93.57 and a two-hundred day moving average of $98.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The stock has a market capitalization of $13.43 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71.

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

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Pentair's dividend payout ratio is currently 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.