Invesco Ltd. Trims Position in Pentair plc (NYSE:PNR)

Invesco Ltd. cut its stake in Pentair plc (NYSE:PNR - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,288,524 shares of the industrial products company's stock after selling 275,689 shares during the period. Invesco Ltd. owned 1.99% of Pentair worth $330,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Moody National Bank Trust Division acquired a new stake in shares of Pentair during the fourth quarter worth $989,000. Geode Capital Management LLC grew its holdings in Pentair by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company's stock worth $389,800,000 after acquiring an additional 19,853 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Pentair by 55.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock worth $81,000 after acquiring an additional 287 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Pentair in the 4th quarter valued at about $289,000. Finally, Norges Bank bought a new stake in shares of Pentair during the 4th quarter valued at about $36,568,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Stock Up 0.3 %

NYSE:PNR traded up $0.21 on Tuesday, hitting $83.00. The stock had a trading volume of 200,573 shares, compared to its average volume of 1,492,535. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The firm's fifty day simple moving average is $89.22 and its two-hundred day simple moving average is $97.67. The stock has a market cap of $13.69 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60.

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Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to analysts' expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business's revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Analysts predict that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's dividend payout ratio is currently 26.74%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PNR shares. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Citigroup dropped their target price on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday. Robert W. Baird upgraded shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price target for the company in a report on Tuesday, March 25th. StockNews.com lowered shares of Pentair from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, Northcoast Research upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Pentair has a consensus rating of "Moderate Buy" and a consensus price target of $110.87.

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.