Pentair plc (NYSE:PNR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 322,822 shares of the industrial products company's stock after selling 17,519 shares during the period. Russell Investments Group Ltd. owned 0.20% of Pentair worth $32,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNR. Quarry LP lifted its holdings in 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 acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of Pentair by 753.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock worth $34,000 after buying an additional 294 shares in the last quarter. Eastern Bank grew its holdings in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after acquiring an additional 300 shares in the last quarter. Friedenthal Financial purchased a new position in Pentair in the fourth quarter valued at $56,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Pentair in the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Trading Up 1.5 %

PNR traded up $1.19 during midday trading on Friday, hitting $82.03. The company's stock had a trading volume of 2,364,905 shares, compared to its average volume of 1,497,768. The firm has a market cap of $13.52 billion, a P/E ratio of 21.93, a PEG ratio of 1.87 and a beta of 1.13. Pentair plc has a 52-week low of $72.63 and a 52-week 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 firm has a 50-day moving average price of $89.54 and a two-hundred day moving average price of $97.77.

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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, topping the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 earnings per share. On average, research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Pentair's dividend payout ratio (DPR) is 26.74%.

Wall Street Analysts Forecast Growth

PNR has been the topic of several research analyst reports. Barclays cut their price target on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Robert W. Baird upgraded shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price objective for the company in a research report on Tuesday, March 25th. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. 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, Stifel Nicolaus decreased their target price on Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Four equities research 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.