Strs Ohio Trims Stock Holdings in Pentair plc $PNR

Strs Ohio reduced its position in shares of Pentair plc (NYSE:PNR) by 93.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,812 shares of the industrial products company’s stock after selling 191,006 shares during the period. Strs Ohio’s holdings in Pentair were worth $1,203,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. IFM Investors Pty Ltd boosted its position in shares of Pentair by 13.7% in the first quarter. IFM Investors Pty Ltd now owns 58,788 shares of the industrial products company’s stock worth $5,121,000 after acquiring an additional 7,099 shares during the last quarter. Inspire Investing LLC raised its stake in Pentair by 7.1% during the first quarter. Inspire Investing LLC now owns 2,825 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 188 shares during the period. Apollon Wealth Management LLC purchased a new position in Pentair during the first quarter worth approximately $225,000. Patton Fund Management Inc. boosted its holdings in shares of Pentair by 10.9% in the 1st quarter. Patton Fund Management Inc. now owns 2,427 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 238 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Pentair in the 1st quarter valued at $203,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Ratings Changes

PNR has been the topic of several research reports. Stifel Nicolaus cut their target price on Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Bank of America lowered their price target on Pentair from $100.00 to $88.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Barclays decreased their target price on Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Oppenheimer dropped their target price on shares of Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $125.00 price target (down from $135.00) on shares of Pentair in a research report on Tuesday, March 31st. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $107.86.

Pentair Price Performance

PNR opened at $75.22 on Wednesday. Pentair plc has a twelve month low of $69.93 and a twelve month high of $113.95. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.28 and a beta of 1.03. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $75.19 and a 200 day simple moving average of $89.48.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS. Equities research analysts expect that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, July 24th. This represents a $1.08 annualized dividend and a yield of 1.4%. Pentair’s dividend payout ratio is presently 26.47%.

Pentair Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.