Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Pentair plc (NYSE:PNR)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Pentair plc (NYSE:PNR - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 460,107 shares of the industrial products company's stock after selling 26,377 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.28% of Pentair worth $46,305,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of Pentair by 11.0% during the third quarter. Van ECK Associates Corp now owns 27,726 shares of the industrial products company's stock valued at $2,717,000 after acquiring an additional 2,750 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Pentair by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 219,061 shares of the industrial products company's stock worth $21,422,000 after purchasing an additional 11,392 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in shares of Pentair by 24.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 3,976 shares of the industrial products company's stock valued at $389,000 after purchasing an additional 776 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Pentair during the 3rd quarter valued at about $253,000. Finally, Assetmark Inc. increased its position in shares of Pentair by 332.5% during the third quarter. Assetmark Inc. now owns 1,319 shares of the industrial products company's stock valued at $129,000 after buying an additional 1,014 shares during the period. 92.37% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several research firms have weighed in on PNR. Wolfe Research began coverage on Pentair in a research report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price objective on the stock. Stifel Nicolaus dropped their target price on shares of Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Robert W. Baird increased their price target on shares of Pentair from $106.00 to $114.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. StockNews.com raised shares of Pentair from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Barclays lifted their target price on shares of Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $112.93.

Pentair Stock Performance

NYSE:PNR traded up $2.18 during trading hours on Friday, reaching $86.18. The company had a trading volume of 1,514,634 shares, compared to its average volume of 1,490,128. The firm's 50 day moving average price is $97.10 and its 200-day moving average price is $98.54. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.87 and a beta of 1.23. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71.

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

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. 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.