Swedbank AB Sells 472,859 Shares of Pentair plc $PNR

Swedbank AB lowered its holdings in shares of Pentair plc (NYSE:PNR) by 67.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 224,146 shares of the industrial products company’s stock after selling 472,859 shares during the period. Swedbank AB’s holdings in Pentair were worth $19,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Pentair by 106.7% in the third quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock valued at $358,521,000 after buying an additional 1,670,944 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Pentair by 1,690.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock worth $75,987,000 after acquiring an additional 688,921 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Pentair by 22.8% in the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock valued at $366,787,000 after purchasing an additional 647,162 shares in the last quarter. 140 Summer Partners LP acquired a new stake in shares of Pentair in the 3rd quarter valued at approximately $60,752,000. Finally, AQR Capital Management LLC grew its holdings in shares of Pentair by 43.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,472,500 shares of the industrial products company’s stock valued at $161,754,000 after purchasing an additional 442,534 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Trading Up 1.9%

Shares of NYSE PNR opened at $74.66 on Friday. The firm has a 50 day moving average price of $74.65 and a two-hundred day moving average price of $89.06. The stock has a market cap of $12.07 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.03. Pentair plc has a 52-week low of $69.93 and a 52-week high of $113.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. Pentair’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Pentair plc will post 5.35 EPS 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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, July 24th. Pentair’s payout ratio is 26.47%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Pentair in a research report on Thursday. Royal Bank Of Canada decreased their target price on shares of Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 price target (down from $135.00) on shares of Pentair in a report on Tuesday, March 31st. Weiss Ratings cut Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Seaport Research Partners cut their price objective on Pentair from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $107.86.

Pentair Company 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.