DnB Asset Management AS Trims Stock Holdings in Pentair plc (NYSE:PNR)

DnB Asset Management AS reduced its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,615 shares of the industrial products company's stock after selling 3,520 shares during the quarter. DnB Asset Management AS's holdings in Pentair were worth $5,899,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cerity Partners LLC lifted its holdings in Pentair by 130.3% in the third quarter. Cerity Partners LLC now owns 32,160 shares of the industrial products company's stock worth $3,145,000 after buying an additional 18,196 shares during the period. Algert Global LLC bought a new position in shares of Pentair in the 3rd quarter worth approximately $479,000. Glenmede Trust Co. NA purchased a new position in shares of Pentair in the 3rd quarter valued at approximately $666,000. Public Sector Pension Investment Board boosted its position in shares of Pentair by 10.9% during the third quarter. Public Sector Pension Investment Board now owns 7,147 shares of the industrial products company's stock valued at $699,000 after purchasing an additional 700 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Pentair by 8.8% in the third quarter. Captrust Financial Advisors now owns 38,609 shares of the industrial products company's stock worth $3,776,000 after purchasing an additional 3,129 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

PNR traded up $1.10 during mid-day trading on Wednesday, reaching $89.14. 911,185 shares of the company traded hands, compared to its average volume of 1,465,604. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. The stock has a market capitalization of $14.69 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.87 and a beta of 1.23. The company's fifty day moving average price is $93.88 and its 200-day moving average price is $98.80.

Remove Ads

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 analysts' consensus estimates 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 return on equity of 20.94% and a net margin of 15.32%. Pentair's revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. On average, sell-side analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.12%. Pentair's payout ratio is presently 26.74%.

Wall Street Analyst Weigh In

PNR has been the topic of a number of research reports. Barclays dropped their target price on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Citigroup cut their price objective on shares of Pentair from $126.00 to $119.00 and set a "buy" rating on the stock in a report on Monday, January 13th. StockNews.com raised Pentair from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Finally, KeyCorp reiterated a "sector weight" rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Pentair has an average rating of "Moderate Buy" and an average price target of $112.27.

Pentair Company 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.