American Century Companies Inc. Sells 9,977 Shares of Pentair plc (NYSE:PNR)

American Century Companies Inc. trimmed its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 55.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,134 shares of the industrial products company's stock after selling 9,977 shares during the period. American Century Companies Inc.'s holdings in Pentair were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Quarry LP grew its position in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after buying an additional 134 shares in the last quarter. SJS Investment Consulting Inc. boosted 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 buying an additional 294 shares during the period. Eastern Bank grew its position in shares of Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company's stock valued at $51,000 after buying an additional 300 shares during the last quarter. Friedenthal Financial bought a new position in Pentair in the fourth quarter worth about $56,000. Finally, Intact Investment Management Inc. bought a new position in shares of Pentair during the fourth quarter valued at approximately $60,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Trading Down 2.4 %

Shares of PNR stock traded down $1.95 during trading hours on Wednesday, reaching $80.36. 794,934 shares of the stock traded hands, compared to its average volume of 1,603,595. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $13.26 billion, a PE ratio of 21.49, a PEG ratio of 1.87 and a beta of 1.13. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The business has a fifty day moving average price of $88.90 and a 200 day moving average price of $97.57.

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Pentair (NYSE:PNR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The company 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%. The company's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. On average, equities research analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, April 17th. Pentair's dividend payout ratio is currently 26.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PNR shares. Stifel Nicolaus dropped their price target on shares of Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Northcoast Research upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Robert W. Baird upgraded shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price target on the stock in a research report on Tuesday, March 25th. Finally, StockNews.com lowered shares of Pentair from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

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.