CIBC Private Wealth Group LLC Sells 4,428 Shares of Pentair plc (NYSE:PNR)

CIBC Private Wealth Group LLC reduced its position in shares of Pentair plc (NYSE:PNR - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,887 shares of the industrial products company's stock after selling 4,428 shares during the period. CIBC Private Wealth Group LLC owned about 0.11% of Pentair worth $18,888,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PNR. Quarry LP raised its holdings in 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 acquiring an additional 134 shares in the last quarter. SJS Investment Consulting Inc. raised its position in Pentair by 753.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock worth $34,000 after acquiring an additional 294 shares in the last quarter. Eastern Bank lifted its stake in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 300 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Pentair in the 4th quarter valued at about $55,000. Finally, Friedenthal Financial acquired a new position in Pentair during the fourth quarter worth approximately $56,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Trading Down 8.6 %

NYSE PNR traded down $7.62 during trading hours on Thursday, hitting $81.47. 2,114,248 shares of the company's stock were exchanged, compared to its average volume of 1,466,238. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.87 and a beta of 1.23. The stock has a 50-day simple moving average of $93.57 and a 200 day simple moving average of $98.73. 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 plc has a 1-year low of $72.63 and a 1-year high of $110.71.

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Pentair (NYSE:PNR - Get Free Report) last issued 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 company had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. On average, equities analysts forecast that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.23%. Pentair's payout ratio is 26.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. KeyCorp reiterated a "sector weight" rating and issued a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Stifel Nicolaus dropped their target price on Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a report on Friday, January 24th. Citigroup cut their target price on Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Robert W. Baird raised Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Tuesday, March 25th. Finally, StockNews.com upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $112.27.

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.