Pentair plc (NYSE:PNR) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its position in shares of Pentair plc (NYSE:PNR - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,535 shares of the industrial products company's stock after selling 10,356 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.06% of Pentair worth $9,514,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNR. Tower Research Capital LLC TRC grew its position in shares of Pentair by 189.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,615 shares of the industrial products company's stock valued at $1,169,000 after purchasing an additional 7,602 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Pentair by 3.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,749,965 shares of the industrial products company's stock worth $176,117,000 after buying an additional 62,926 shares during the last quarter. Mirova grew its holdings in Pentair by 249.0% in the 4th quarter. Mirova now owns 24,486 shares of the industrial products company's stock valued at $2,464,000 after buying an additional 17,469 shares during the period. MetLife Investment Management LLC increased its stake in shares of Pentair by 1.6% during the 4th quarter. MetLife Investment Management LLC now owns 43,727 shares of the industrial products company's stock valued at $4,401,000 after acquiring an additional 704 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of Pentair by 10.0% during the 4th quarter. Norinchukin Bank The now owns 7,600 shares of the industrial products company's stock worth $765,000 after acquiring an additional 690 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Up 1.8 %

Shares of NYSE PNR opened at $87.77 on Thursday. 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 1 year low of $72.63 and a 1 year high of $110.71. The stock's 50-day simple moving average is $87.03 and its 200-day simple moving average is $96.98. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.87 and a beta of 1.13.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. During the same period in the previous year, the business earned $0.94 EPS. As a group, equities analysts anticipate 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. Shareholders 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 1.14%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's dividend payout ratio is currently 26.74%.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday. Stifel Nicolaus cut their target price on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group set a $95.00 price target on Pentair and gave the company a "neutral" rating in a research report on Tuesday. KeyCorp reaffirmed a "sector weight" rating and issued a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Finally, Citigroup dropped their target price on shares of Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pentair has an average rating of "Moderate Buy" and a consensus target price of $107.64.

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.

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