Victory Capital Management Inc. Sells 10,393 Shares of Pentair plc (NYSE:PNR)

Victory Capital Management Inc. lowered its holdings in Pentair plc (NYSE:PNR - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 426,472 shares of the industrial products company's stock after selling 10,393 shares during the quarter. Victory Capital Management Inc. owned 0.26% of Pentair worth $42,920,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of Pentair by 105.5% in the 3rd 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% in 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 raised its stake in Pentair by 144.9% during the fourth 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. Proficio Capital Partners LLC acquired a new position in Pentair during the fourth quarter worth $55,000. Finally, Friedenthal Financial bought a new position in shares of Pentair during the fourth quarter valued at $56,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Pentair from $106.00 to $114.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. StockNews.com raised shares of Pentair from a "hold" rating to a "buy" rating in a research note on Tuesday. Barclays boosted their target price on Pentair from $108.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Wolfe Research started coverage on Pentair in a report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.25.

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Pentair Trading Down 0.6 %

Shares of NYSE PNR traded down $0.49 during mid-day trading on Wednesday, hitting $85.57. The company's stock had a trading volume of 1,155,024 shares, compared to its average volume of 1,477,359. 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 cap of $14.10 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. The company's fifty day simple moving average is $97.73 and its 200-day simple moving average is $98.74. Pentair plc has a one year low of $72.63 and a one year high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to analysts' expectations of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. On average, sell-side analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Pentair's payout ratio is currently 26.74%.

Pentair Company 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.