By otakuyassine3@gmail.com 
JPMorgan Chase & Co. reduced its stake in shares of Pentair plc (NYSE:PNR – Free Report) by 7.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 780,467 shares of the industrial products company’s stock after selling 60,347 shares during the period. JPMorgan Chase & Co.’s holdings in Pentair were worth $78,546,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock worth $2,034,575,000 after buying an additional 148,031 shares in the last quarter. State Street Corp boosted its stake in shares of Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after acquiring an additional 259,922 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Pentair by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after acquiring an additional 19,853 shares during the period. Bank of New York Mellon Corp increased its stake in Pentair by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock valued at $101,653,000 after purchasing an additional 7,434 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock valued at $89,390,000 after purchasing an additional 357,523 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.
Pentair Price Performance
Pentair stock opened at $81.47 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The firm has a 50 day moving average price of $93.11 and a 200 day moving average price of $98.61.
Pentair (NYSE:PNR – Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share 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 firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter last year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 4.77 earnings per share for the current year.
Pentair Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is presently 26.74%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Barclays lowered their target price on Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research report on Thursday. KeyCorp reiterated a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Finally, Stifel Nicolaus cut their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Four 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.27.
View Our Latest Stock Report on Pentair
About Pentair
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.
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