BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 184,222 Shares of Pentair plc (NYSE:PNR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in Pentair plc (NYSE:PNR) by 34.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 346,632 shares of the industrial products company’s stock after selling 184,222 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.21% of Pentair worth $29,616,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its position in Pentair by 54.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,478 shares of the industrial products company’s stock worth $419,000 after acquiring an additional 2,274 shares in the last quarter. Vanguard Group Inc. boosted its position in Pentair by 1.0% during the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after buying an additional 204,416 shares during the period. Anchor Investment Management LLC purchased a new stake in Pentair during the fourth quarter valued at about $81,000. Nordea Investment Management AB boosted its position in Pentair by 191.8% during the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after buying an additional 46,290 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its position in Pentair by 88.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,015 shares of the industrial products company’s stock valued at $74,000 after buying an additional 477 shares during the period. Institutional investors own 92.37% of the company’s stock.

Insider Buying and Selling at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PNR shares. Citigroup upped their price target on shares of Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday. UBS Group upped their price objective on shares of Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. TD Cowen upped their price objective on shares of Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Stifel Nicolaus upped their price objective on shares of Pentair from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.29.

Pentair Trading Down 0.2 %

PNR stock traded down $0.19 during trading on Friday, reaching $79.37. The company had a trading volume of 192,036 shares, compared to its average volume of 1,584,186. Pentair plc has a 52 week low of $57.18 and a 52 week high of $85.84. The company has a market cap of $13.18 billion, a P/E ratio of 21.22, a PEG ratio of 1.43 and a beta of 1.21. The business has a 50 day moving average of $79.36 and a 200 day moving average of $78.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Pentair’s revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that Pentair plc will post 4.21 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio is 24.47%.

About Pentair

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.