Oppenheimer & Co. Inc. Decreases Holdings in Pentair plc (NYSE:PNR)

Oppenheimer & Co. Inc. reduced its position in shares of Pentair plc (NYSE:PNR - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,159 shares of the industrial products company's stock after selling 2,818 shares during the period. Oppenheimer & Co. Inc.'s holdings in Pentair were worth $4,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP grew its position in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock worth $34,000 after purchasing an additional 294 shares in the last quarter. Blue Trust Inc. lifted its stake in Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 327 shares during the last quarter. Eastern Bank boosted its position in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock valued at $51,000 after buying an additional 300 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Pentair during the fourth quarter worth $56,000. 92.37% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Barclays raised their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Wolfe Research started coverage on shares of Pentair in a report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target on the stock. Finally, Oppenheimer raised their target price on Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $111.25.

Pentair Stock Down 1.0 %

Shares of NYSE PNR traded down $0.95 during mid-day trading on Tuesday, reaching $90.79. 928,703 shares of the company's stock traded hands, compared to its average volume of 1,369,355. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The stock has a market cap of $14.96 billion, a P/E ratio of 24.23, a PEG ratio of 1.87 and a beta of 1.20. The business has a 50-day simple moving average of $99.32 and a 200 day simple moving average of $98.60.

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

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, April 17th. Pentair's dividend payout ratio (DPR) is presently 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.