Pictet Asset Management Holding SA Reduces Stake in Pentair plc (NYSE:PNR)

Pictet Asset Management Holding SA decreased its holdings in Pentair plc (NYSE:PNR - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,691,381 shares of the industrial products company's stock after selling 395,891 shares during the quarter. Pictet Asset Management Holding SA owned 2.84% of Pentair worth $472,141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Quarry LP grew its holdings in Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock valued at $26,000 after buying an additional 134 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Pentair by 753.8% in the fourth 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 during the last quarter. Eastern Bank lifted its position in shares of Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after buying an additional 300 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Pentair during the fourth quarter valued at approximately $55,000. Finally, Friedenthal Financial purchased a new position in Pentair during the 4th quarter valued at approximately $56,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PNR shares. Robert W. Baird raised shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price objective for the company in a research note on Tuesday, March 25th. KeyCorp reissued a "sector weight" rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Citigroup lowered their price target on Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research report on Monday, January 13th. StockNews.com upgraded Pentair from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.27.

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Pentair Trading Up 0.8 %

Shares of PNR stock traded up $0.70 during trading hours on Monday, hitting $87.54. The company had a trading volume of 739,992 shares, compared to its average volume of 1,464,613. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The stock has a market capitalization of $14.43 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The company's fifty day moving average is $94.54 and its 200 day moving average is $98.84.

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

Pentair Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, April 17th. 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.