Corient Private Wealth LLC Sells 5,342 Shares of Pentair plc (NYSE:PNR)

Corient Private Wealth LLC cut its stake in Pentair plc (NYSE:PNR - Free Report) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,690 shares of the industrial products company's stock after selling 5,342 shares during the period. Corient Private Wealth LLC's holdings in Pentair were worth $2,082,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PNR. National Bank of Canada FI boosted its holdings in shares of Pentair by 862.2% in 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 during the period. Allianz Asset Management GmbH boosted its stake in Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock worth $89,390,000 after purchasing an additional 357,523 shares during the period. World Investment Advisors LLC acquired a new position in Pentair in the 3rd quarter worth approximately $26,748,000. National Pension Service grew its position in Pentair by 726.4% during the 4th quarter. National Pension Service now owns 296,554 shares of the industrial products company's stock worth $29,845,000 after purchasing an additional 260,668 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Pentair by 3.1% in the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company's stock valued at $856,257,000 after purchasing an additional 259,922 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several research analysts recently weighed in on PNR shares. StockNews.com raised Pentair from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Stifel Nicolaus reduced their price target on shares of Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Citigroup lowered their price objective on shares of Pentair from $126.00 to $119.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Barclays increased their target price on shares of Pentair from $108.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, 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 report on Tuesday. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Pentair has a consensus rating of "Moderate Buy" and an average target price of $112.93.

Pentair Stock Up 1.4 %

NYSE:PNR traded up $1.26 during trading hours on Tuesday, reaching $91.11. 1,556,938 shares of the stock were exchanged, compared to its average volume of 1,369,937. 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 plc has a twelve month low of $72.63 and a twelve month high of $110.71. The stock has a market cap of $15.02 billion, a PE ratio of 24.36, a PEG ratio of 1.87 and a beta of 1.23. The firm has a 50 day moving average of $95.54 and a 200 day moving average of $98.77.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $970.95 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business's revenue was down 1.2% compared to the same quarter last year. On average, equities analysts expect that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's dividend payout ratio (DPR) is 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.