Larson Financial Group LLC Sells 474 Shares of Pentair plc (NYSE:PNR)

Larson Financial Group LLC lessened its position in Pentair plc (NYSE:PNR) by 20.8% in the fourth quarter, HoldingsChannel reports. The fund owned 1,809 shares of the industrial products company’s stock after selling 474 shares during the quarter. Larson Financial Group LLC’s holdings in Pentair were worth $182,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. grew its stake in Pentair by 16.1% in the fourth quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 127 shares during the period. Quarry LP grew its stake in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 134 shares during the period. Annex Advisory Services LLC grew its stake in Pentair by 2.9% in the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 151 shares during the period. Sanctuary Advisors LLC grew its stake in Pentair by 1.3% in the fourth quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company’s stock valued at $1,251,000 after acquiring an additional 161 shares during the period. Finally, Van ECK Associates Corp grew its stake in Pentair by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 27,893 shares of the industrial products company’s stock valued at $2,807,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analysts Set New Price Targets

PNR has been the subject of a number of research reports. Wolfe Research initiated coverage on Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Barclays lifted their target price on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Stifel Nicolaus cut their target price on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. KeyCorp reaffirmed a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Finally, Oppenheimer lifted their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Pentair Stock Performance

Shares of Pentair stock opened at $86.09 on Wednesday. The business’s fifty day simple moving average is $97.73 and its 200 day simple moving average is $98.74. The firm has a market capitalization of $14.19 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. 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.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. As a group, analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Pentair’s payout ratio is presently 26.74%.

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.