Legal & General Group Plc Sells 201,062 Shares of Pentair plc (NYSE:PNR)

Legal & General Group Plc reduced its stake in Pentair plc (NYSE:PNR - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,580,220 shares of the industrial products company's stock after selling 201,062 shares during the period. Legal & General Group Plc owned approximately 0.96% of Pentair worth $159,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PNR. HighTower Advisors LLC raised its position in Pentair by 3.8% during the third quarter. HighTower Advisors LLC now owns 48,035 shares of the industrial products company's stock valued at $4,694,000 after purchasing an additional 1,774 shares in the last quarter. Quarry LP increased its stake in shares of 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 buying an additional 134 shares during the period. Quantinno Capital Management LP raised its holdings in Pentair by 64.2% during the 3rd quarter. Quantinno Capital Management LP now owns 19,297 shares of the industrial products company's stock worth $1,887,000 after purchasing an additional 7,546 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Pentair in the third quarter valued at $440,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Pentair by 80.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,347 shares of the industrial products company's stock valued at $621,000 after purchasing an additional 2,837 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup reduced their price target on shares of Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a report on Monday. StockNews.com downgraded shares of Pentair from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. Barclays lowered their price objective on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Finally, 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 research note on Friday, January 24th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $110.87.

Pentair Price Performance

Shares of NYSE:PNR traded up $0.23 during trading on Tuesday, reaching $83.02. The company had a trading volume of 209,040 shares, compared to its average volume of 1,604,161. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a fifty day moving average of $89.22 and a two-hundred day moving average of $97.67. The stock has a market capitalization of $13.70 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 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 net margin of 15.32% and a return on equity of 20.94%. The business's quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. Equities research analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Thursday, April 17th. Pentair's dividend payout ratio (DPR) is presently 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.