IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stock Position in Pentair plc (NYSE:PNR)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 37.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,202 shares of the industrial products company's stock after selling 4,336 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Pentair were worth $725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company's stock valued at $2,034,575,000 after purchasing an additional 148,031 shares during the last quarter. State Street Corp grew its position in Pentair by 3.1% in the 3rd 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 during the period. FMR LLC raised its stake in Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company's stock valued at $557,860,000 after buying an additional 258,134 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $389,800,000 after buying an additional 19,853 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Pentair by 0.7% in the 4th 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 buying an additional 7,434 shares during the last quarter. Institutional investors own 92.37% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com upgraded Pentair from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. KeyCorp reaffirmed a "sector weight" rating and set a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Stifel Nicolaus dropped their price objective on shares of Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Robert W. Baird raised shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 target price for the company in a report on Tuesday, March 25th. Finally, Barclays dropped their price target on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Three research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $112.27.

Pentair Price Performance

NYSE PNR traded up $0.68 during trading hours on Monday, reaching $87.52. The company's stock had a trading volume of 1,440,995 shares, compared to its average volume of 1,466,715. 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 1 year low of $72.63 and a 1 year high of $110.71. The firm's 50-day moving average price is $94.54 and its 200-day moving average price is $98.84. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.87 and a beta of 1.23.

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 firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, equities research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

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 issued 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 1.14%. Pentair's dividend payout ratio (DPR) is 26.74%.

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.