Pentair plc $PNR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Pentair plc (NYSE:PNR) by 4.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 386,793 shares of the industrial products company’s stock after selling 17,195 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pentair were worth $33,694,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Avanza Fonder AB raised its holdings in Pentair by 142.1% in the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock valued at $4,055,000 after acquiring an additional 22,858 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Pentair by 13.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock worth $274,810,000 after purchasing an additional 305,166 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Pentair by 22.8% during the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after purchasing an additional 647,162 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Pentair by 624.2% in the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock valued at $37,766,000 after purchasing an additional 312,574 shares in the last quarter. Finally, Hudson Bay Capital Management LP grew its position in shares of Pentair by 38.2% in the third quarter. Hudson Bay Capital Management LP now owns 132,134 shares of the industrial products company’s stock valued at $14,635,000 after purchasing an additional 36,498 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PNR shares. Bank of America reduced their price objective on Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. TD Cowen dropped their price objective on shares of Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Robert W. Baird set a $110.00 target price on shares of Pentair in a report on Wednesday, April 29th. Finally, Citigroup dropped their price target on shares of Pentair from $112.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $107.86.

Pentair Trading Up 0.6%

PNR opened at $76.62 on Tuesday. The firm has a market cap of $12.38 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.29 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $74.47 and a 200-day simple moving average of $88.65. Pentair plc has a 52 week low of $69.93 and a 52 week high of $113.95.

Pentair (NYSE:PNR) last issued its quarterly earnings results 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 earnings per share. On average, equities analysts expect that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued 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 26.47%.

About Pentair

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.