California Public Employees Retirement System Has $27.89 Million Stake in Pentair plc (NYSE:PNR)

California Public Employees Retirement System lessened its position in shares of Pentair plc (NYSE:PNR - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,088 shares of the industrial products company's stock after selling 21,262 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Pentair worth $27,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PNR. Teacher Retirement System of Texas boosted its stake in Pentair by 219.0% in the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company's stock valued at $60,863,000 after purchasing an additional 415,163 shares during the period. National Bank of Canada FI lifted its holdings in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company's stock worth $43,212,000 after buying an additional 395,962 shares in the last quarter. Norges Bank bought a new stake in shares of Pentair in the fourth quarter valued at about $36,568,000. Allianz Asset Management GmbH grew its stake in shares of Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock valued at $89,390,000 after acquiring an additional 357,523 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in Pentair during the third quarter worth about $26,748,000. Institutional investors and hedge funds own 92.37% of the company's stock.

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Pentair Price Performance

NYSE:PNR traded down $1.53 on Tuesday, hitting $76.00. The company had a trading volume of 1,895,809 shares, compared to its average volume of 1,480,447. The firm has a 50 day moving average of $91.08 and a two-hundred day moving average of $98.16. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.87 and a beta of 1.13. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data 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 return on equity of 20.94% and a net margin of 15.32%. The company had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. During the same quarter last year, the business posted $0.87 EPS. Pentair's revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. Pentair's dividend payout ratio (DPR) is presently 26.74%.

Analyst Upgrades and Downgrades

PNR has been the topic of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Barclays reduced their price target on Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. KeyCorp reissued a "sector weight" rating and set a $115.00 target price on shares of Pentair in a report on Monday, January 6th. Finally, Citigroup dropped their price target on Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.27.

About Pentair

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.