JPMorgan Chase & Co. Sells 60,347 Shares of Pentair plc (NYSE:PNR)

JPMorgan Chase & Co. cut its stake in Pentair plc (NYSE:PNR - Free Report) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 780,467 shares of the industrial products company's stock after selling 60,347 shares during the quarter. JPMorgan Chase & Co. owned 0.47% of Pentair worth $78,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PNR. Independent Advisor Alliance increased its position in Pentair by 1.4% during the fourth quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company's stock valued at $768,000 after acquiring an additional 103 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Pentair by 11.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company's stock valued at $120,000 after purchasing an additional 118 shares during the period. Richardson Financial Services Inc. increased its position in shares of Pentair by 16.1% during the 4th quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company's stock valued at $92,000 after purchasing an additional 127 shares during the last quarter. Quarry LP lifted its stake in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after purchasing an additional 134 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in shares of Pentair by 2.9% in the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company's stock worth $540,000 after buying an additional 151 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

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Pentair Stock Down 2.0 %

PNR stock traded down $1.53 during trading on Tuesday, reaching $76.00. The stock had a trading volume of 1,895,809 shares, compared to its average volume of 1,480,447. Pentair plc has a 1-year low of $72.63 and a 1-year 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 company has a market capitalization of $12.53 billion, a P/E ratio of 20.32, a PEG ratio of 1.87 and a beta of 1.13. The firm has a fifty day moving average price of $91.08 and a 200 day moving average price of $98.16.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly 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 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 quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. On average, equities analysts anticipate 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. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Pentair's dividend payout ratio (DPR) is presently 26.74%.

Analysts Set New Price Targets

Several research firms have issued reports on PNR. KeyCorp reissued a "sector weight" rating and set a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. StockNews.com cut shares of Pentair from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Robert W. Baird upgraded shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Tuesday, March 25th. Finally, Barclays cut their price target on Pentair from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Pentair currently has an average rating of "Moderate Buy" and a consensus target price of $112.27.

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.