Sound Financial Strategies Group LLC Trims Stock Holdings in Pentair plc (NYSE:PNR)

Sound Financial Strategies Group LLC trimmed its holdings in Pentair plc (NYSE:PNR) by 38.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,671 shares of the industrial products company’s stock after selling 5,948 shares during the quarter. Pentair makes up about 0.6% of Sound Financial Strategies Group LLC’s portfolio, making the stock its 12th biggest position. Sound Financial Strategies Group LLC’s holdings in Pentair were worth $703,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNR. AE Wealth Management LLC grew its stake in Pentair by 9.5% in the third quarter. AE Wealth Management LLC now owns 4,337 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 378 shares in the last quarter. IFP Advisors Inc grew its stake in Pentair by 97.6% in the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Pentair in the third quarter worth approximately $207,000. UMB Bank n.a. grew its stake in Pentair by 22,822.7% in the third quarter. UMB Bank n.a. now owns 74,728 shares of the industrial products company’s stock worth $4,839,000 after purchasing an additional 74,402 shares in the last quarter. Finally, Oak Thistle LLC grew its stake in Pentair by 123.4% in the third quarter. Oak Thistle LLC now owns 17,760 shares of the industrial products company’s stock worth $1,150,000 after purchasing an additional 9,809 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PNR shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. Stifel Nicolaus raised their price objective on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Oppenheimer raised their price objective on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on Pentair from $101.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, KeyCorp raised their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Stock Performance

Shares of NYSE PNR traded up $0.52 during trading on Wednesday, reaching $78.99. 1,985,873 shares of the company traded hands, compared to its average volume of 1,651,709. The stock has a market cap of $13.11 billion, a P/E ratio of 21.06, a PEG ratio of 1.51 and a beta of 1.20. The firm’s fifty day simple moving average is $80.19 and its 200 day simple moving average is $71.79. Pentair plc has a 12-month low of $52.28 and a 12-month high of $85.81. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. As a group, research analysts anticipate that Pentair plc will post 4.2 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is presently 24.53%.

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.