Wells Fargo & Company MN Lowers Stock Holdings in Pentair plc (NYSE:PNR)

Wells Fargo & Company MN lowered its position in shares of Pentair plc (NYSE:PNR - Free Report) by 5.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,394 shares of the industrial products company's stock after selling 15,690 shares during the period. Wells Fargo & Company MN owned approximately 0.16% of Pentair worth $26,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PNR. Quarry LP increased its holdings in 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 last quarter. EP Wealth Advisors LLC purchased a new position in shares of Pentair during the third quarter worth $440,000. Orion Portfolio Solutions LLC grew its stake in shares of Pentair by 80.8% in the third quarter. Orion Portfolio Solutions LLC now owns 6,347 shares of the industrial products company's stock valued at $621,000 after buying an additional 2,837 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Pentair by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 7,281 shares of the industrial products company's stock valued at $712,000 after buying an additional 213 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Pentair during the 3rd quarter worth about $6,319,000. Hedge funds and other institutional investors own 92.37% of the company's stock.

Pentair Stock Performance

Shares of PNR stock traded down $0.51 during mid-day trading on Tuesday, hitting $82.28. 985,584 shares of the stock were exchanged, compared to its average volume of 1,495,544. The stock's fifty day simple moving average is $89.22 and its two-hundred day simple moving average is $97.67. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.87 and a beta of 1.13.

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Pentair (NYSE:PNR - Get Free Report) last released 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 company had revenue of $972.90 million for 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 firm's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The firm also recently disclosed 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 1.22%. The ex-dividend date is Thursday, April 17th. Pentair's payout ratio is currently 26.74%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Robert W. Baird upgraded shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price target on the stock in a research note on Tuesday, March 25th. Baird R W raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Barclays decreased their price target on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Northcoast Research upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Citigroup reduced their price objective on Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.87.

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.