DnB Asset Management AS Has $5.90 Million Holdings in Pentair plc (NYSE:PNR)

DnB Asset Management AS trimmed its position in shares of Pentair plc (NYSE:PNR) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,615 shares of the industrial products company’s stock after selling 3,520 shares during the period. DnB Asset Management AS’s holdings in Pentair were worth $5,899,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNR. Quarry LP increased its stake in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Pentair by 753.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after buying an additional 294 shares during the last quarter. Eastern Bank raised its stake in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after buying an additional 300 shares during the period. Friedenthal Financial acquired a new stake in shares of Pentair in the fourth quarter valued at approximately $56,000. Finally, Intact Investment Management Inc. bought a new position in shares of Pentair during the 4th quarter worth approximately $60,000. 92.37% of the stock is owned by institutional investors.

Pentair Price Performance

Shares of NYSE:PNR opened at $86.76 on Monday. The firm has a 50 day moving average of $94.54 and a 200-day moving average of $98.84. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $14.30 billion, a PE ratio of 23.20, a PEG ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $970.95 million. During the same period in the prior year, the company earned $0.87 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is presently 26.74%.

Analyst Ratings Changes

A number of research firms recently weighed in on PNR. KeyCorp restated a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Citigroup reduced their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Barclays lowered their target price on Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and an average price target of $112.27.

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.