Aviva PLC Decreases Stock Position in Pentair plc (NYSE:PNR)

Aviva PLC reduced its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 387,769 shares of the industrial products company's stock after selling 59,264 shares during the quarter. Aviva PLC owned approximately 0.23% of Pentair worth $39,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNR. Public Sector Pension Investment Board raised its position in shares of Pentair by 10.9% during 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 last quarter. Benjamin Edwards Inc. acquired a new position in shares of Pentair in the third quarter worth $437,000. HighTower Advisors LLC lifted its position in shares of Pentair by 3.8% in the third quarter. HighTower Advisors LLC now owns 48,035 shares of the industrial products company's stock valued at $4,694,000 after acquiring an additional 1,774 shares in the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Pentair by 48.0% during the third quarter. Investment Management Corp of Ontario now owns 5,553 shares of the industrial products company's stock valued at $543,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in Pentair by 1.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,814 shares of the industrial products company's stock worth $960,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PNR. Northcoast Research upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. StockNews.com lowered shares of Pentair from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. KeyCorp reaffirmed a "sector weight" rating and issued a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Barclays reduced their target price on Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Finally, Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $112.27.

Pentair Trading Up 0.3 %

PNR stock traded up $0.27 during midday trading on Friday, reaching $81.11. 693,554 shares of the company's stock traded hands, compared to its average volume of 1,491,702. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The business has a 50-day moving average price of $89.87 and a two-hundred day moving average price of $97.87. The company has a market capitalization of $13.37 billion, a P/E ratio of 21.68, a PEG ratio of 1.87 and a beta of 1.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

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

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. 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 (DPR) is currently 26.74%.

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.