Pentair plc (NYSE:PNR) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,849 shares of the industrial products company's stock after selling 3,186 shares during the period. HighTower Advisors LLC's holdings in Pentair were worth $4,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company's stock worth $856,257,000 after purchasing an additional 259,922 shares in the last quarter. FMR LLC lifted its position in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company's stock worth $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company's stock worth $389,800,000 after purchasing an additional 19,853 shares in the last quarter. Swedbank AB lifted its position in shares of Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company's stock worth $132,141,000 after purchasing an additional 205,000 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Pentair by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company's stock worth $101,653,000 after purchasing an additional 7,434 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

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Pentair Stock Performance

Shares of NYSE:PNR traded down $0.87 on Friday, reaching $87.44. 3,262,858 shares of the company's stock were exchanged, compared to its average volume of 1,370,800. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The business's 50-day moving average is $95.72 and its two-hundred day moving average is $98.65. 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 (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, topping analysts' consensus estimates 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 analysts' expectations of $970.95 million. During the same quarter last year, the company earned $0.87 EPS. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The company 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 of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Pentair's dividend payout ratio (DPR) is presently 26.74%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. KeyCorp reissued a "sector weight" rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Citigroup reduced their target price 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. Wolfe Research started coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price target on the stock. Robert W. Baird upped their price target on shares of Pentair from $106.00 to $114.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Finally, Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Pentair currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.93.

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.