New York Life Investment Management LLC Sells 18,935 Shares of Pentair plc (NYSE:PNR)

New York Life Investment Management LLC reduced its position in Pentair plc (NYSE:PNR - Free Report) by 45.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,664 shares of the industrial products company's stock after selling 18,935 shares during the period. New York Life Investment Management LLC's holdings in Pentair were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. SRN Advisors LLC bought a new stake in Pentair during the fourth quarter valued at approximately $793,000. Impact Investors Inc bought a new stake in shares of Pentair during the 4th quarter valued at $1,088,000. National Pension Service increased its stake in shares of Pentair by 726.4% in 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. Bank of New York Mellon Corp raised its holdings in 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 purchasing an additional 7,434 shares during the period. Finally, World Equity Group Inc. lifted its position in Pentair by 100.1% during the fourth quarter. World Equity Group Inc. now owns 6,950 shares of the industrial products company's stock valued at $699,000 after purchasing an additional 3,476 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wolfe Research started coverage on Pentair in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price target for the company. Stifel Nicolaus reduced their target price on shares of Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a report on Friday, January 24th. KeyCorp reaffirmed a "sector weight" rating and set a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Northcoast Research upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, Oppenheimer raised their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has 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 a consensus price target of $111.25.

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Pentair Price Performance

PNR traded down $0.87 during trading hours on Thursday, hitting $90.32. The company's stock had a trading volume of 460,536 shares, compared to its average volume of 1,377,657. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business's 50-day moving average price is $99.07 and its 200-day moving average price is $98.63. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 1.87 and a beta of 1.23.

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, 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 firm had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. During the same period in the previous year, the firm posted $0.87 EPS. The business's quarterly revenue was down 1.2% on a year-over-year basis. Sell-side analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, April 17th. Pentair's payout ratio 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.