Swedbank AB Has $102.78 Million Stake in Pentair plc (NYSE:PNR)

Swedbank AB trimmed its holdings in Pentair plc (NYSE:PNR - Free Report) by 24.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,021,271 shares of the industrial products company's stock after selling 330,000 shares during the quarter. Swedbank AB owned 0.62% of Pentair worth $102,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PNR. Robeco Institutional Asset Management B.V. lifted its stake in Pentair by 13.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 78,293 shares of the industrial products company's stock worth $7,879,000 after acquiring an additional 9,584 shares in the last quarter. Pacer Advisors Inc. increased its stake in Pentair by 16.1% in the 4th quarter. Pacer Advisors Inc. now owns 14,364 shares of the industrial products company's stock valued at $1,446,000 after buying an additional 1,997 shares during the period. Blue Trust Inc. lifted its position in Pentair by 59.6% in the 4th quarter. Blue Trust Inc. now owns 838 shares of the industrial products company's stock worth $82,000 after buying an additional 313 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Pentair by 6.8% during the 4th quarter. PFG Investments LLC now owns 3,813 shares of the industrial products company's stock valued at $384,000 after buying an additional 244 shares during the period. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 294 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Wall Street Analyst Weigh In

PNR has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target on the stock. Citigroup decreased their price objective on shares of Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a report on Monday, January 13th. Stifel Nicolaus dropped their price target on Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. The Goldman Sachs Group increased their price target on shares of Pentair from $93.00 to $103.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $111.07.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares of the company's stock, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Pentair Price Performance

PNR traded up $1.53 during trading on Thursday, hitting $103.18. 335,986 shares of the stock traded hands, compared to its average volume of 1,130,489. The business has a 50 day moving average price of $103.95 and a 200 day moving average price of $96.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a twelve month low of $72.03 and a twelve month high of $110.71. The company has a market cap of $17.05 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.67 and a beta of 1.21.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from Pentair's previous quarterly dividend of $0.23. Pentair's dividend payout ratio is 25.00%.

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.