Parnassus Investments LLC Sells 30,913 Shares of Pentair plc (NYSE:PNR)

Parnassus Investments LLC decreased its position in Pentair plc (NYSE:PNR - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516,798 shares of the industrial products company's stock after selling 30,913 shares during the period. Parnassus Investments LLC owned approximately 0.31% of Pentair worth $52,011,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. National Bank of Canada FI boosted its position in shares of Pentair by 862.2% during the 3rd quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company's stock valued at $43,212,000 after purchasing an additional 395,962 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock valued at $89,390,000 after acquiring an additional 357,523 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Pentair during the 3rd quarter valued at $26,748,000. National Pension Service lifted its position in shares of Pentair by 726.4% during the 4th quarter. National Pension Service now owns 296,554 shares of the industrial products company's stock valued at $29,845,000 after acquiring an additional 260,668 shares during the period. Finally, State Street Corp grew its holdings in Pentair by 3.1% in 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 during the period. Institutional investors own 92.37% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PNR shares. Robert W. Baird increased their price objective on shares of Pentair from $106.00 to $114.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 target price for the company. Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. KeyCorp reissued a "sector weight" rating and set a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $112.93.

Pentair Stock Performance

NYSE PNR traded up $0.18 on Tuesday, hitting $87.35. 1,678,543 shares of the stock traded hands, compared to its average volume of 1,371,887. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.87 and a beta of 1.23. The business's fifty day moving average is $96.56 and its two-hundred day moving average is $98.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. As a group, equities analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. Pentair's payout ratio is 26.74%.

Pentair 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.