Pentair plc (NYSE:PNR) Position Cut by Swiss National Bank

Swiss National Bank decreased its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 467,487 shares of the industrial products company's stock after selling 25,300 shares during the period. Swiss National Bank owned 0.28% of Pentair worth $47,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP grew its position 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 purchasing an additional 134 shares during the period. SJS Investment Consulting Inc. grew its position in Pentair by 753.8% during the fourth 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 during the period. Eastern Bank grew its position in Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 300 shares during the period. Proficio Capital Partners LLC purchased a new stake in Pentair during the fourth quarter valued at about $55,000. Finally, Friedenthal Financial purchased a new stake in Pentair during the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 92.37% of the company's stock.

Analyst Ratings Changes

PNR has been the subject of a number of research reports. Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Citigroup reduced their price objective on Pentair from $126.00 to $119.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada restated an "outperform" rating and set a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. Barclays boosted their price objective on Pentair from $108.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Finally, Wolfe Research assumed coverage on Pentair in a research note on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $112.93.

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Pentair Stock Performance

Shares of NYSE:PNR traded down $0.72 during trading on Thursday, hitting $88.34. 1,432,328 shares of the company traded hands, compared to its average volume of 1,370,820. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.87 and a beta of 1.23. The business's fifty day moving average is $96.13 and its 200-day moving average is $98.65. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

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

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, April 17th. Pentair's dividend payout ratio (DPR) 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.