Pentair plc $PNR Stock Holdings Decreased by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in Pentair plc (NYSE:PNR) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,493,619 shares of the industrial products company’s stock after selling 174,678 shares during the period. ProShare Advisors LLC’s holdings in Pentair were worth $155,545,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PNR. Ameriprise Financial Inc. increased its position in shares of Pentair by 106.7% in the third quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock worth $358,521,000 after acquiring an additional 1,670,944 shares in the last quarter. Assenagon Asset Management S.A. increased its position 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 in the last quarter. Nordea Investment Management AB increased its position in shares of Pentair by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after acquiring an additional 647,162 shares in the last quarter. 140 Summer Partners LP purchased a new position in shares of Pentair in the third quarter worth approximately $60,752,000. Finally, AQR Capital Management LLC increased its position in shares of Pentair by 43.0% in the third quarter. AQR Capital Management LLC now owns 1,472,500 shares of the industrial products company’s stock worth $161,754,000 after acquiring an additional 442,534 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

Shares of PNR opened at $73.44 on Tuesday. The company’s 50 day moving average price is $85.82 and its 200 day moving average price is $97.45. Pentair plc has a 52 week low of $72.21 and a 52 week high of $113.95. The company has a market capitalization of $11.87 billion, a PE ratio of 18.00, a PEG ratio of 1.23 and a beta of 1.10. 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 posted its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. The firm had revenue of $1.04 billion during 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 company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. Research analysts expect that Pentair plc will post 5.36 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a $0.27 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. Pentair’s payout ratio is 26.47%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays lowered their price objective on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $125.00 price objective (down from $135.00) on shares of Pentair in a research report on Tuesday, March 31st. Finally, Seaport Research Partners lowered their price objective on shares of Pentair from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Pentair presently has a consensus rating of “Hold” and an average target price of $107.86.

Insider Transactions at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 6,493 shares of Pentair stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $103.22, for a total value of $670,207.46. Following the completion of the sale, the executive vice president directly owned 29,096 shares in the company, valued at $3,003,289.12. The trade was a 18.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is owned by company insiders.

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.