Fjarde AP Fonden Fourth Swedish National Pension Fund Buys New Position in Pentair plc $PNR

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in Pentair plc (NYSE:PNR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,081 shares of the industrial products company’s stock, valued at approximately $4,174,000.

Several other institutional investors have also recently added to or reduced their stakes in PNR. Ameriprise Financial Inc. raised its stake in Pentair by 106.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock valued at $358,521,000 after purchasing an additional 1,670,944 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Pentair by 1,690.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock valued at $75,987,000 after acquiring an additional 688,921 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Pentair by 22.8% during 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 acquiring an additional 647,162 shares during the last quarter. 140 Summer Partners LP acquired a new position in shares of Pentair during the 3rd quarter valued at about $60,752,000. Finally, AQR Capital Management LLC increased its stake 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 acquiring an additional 442,534 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the subject of a number of research analyst reports. 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 note on Tuesday, March 31st. Wall Street Zen downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Seaport Research Partners dropped their price objective on shares of Pentair from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada dropped their price objective on shares of Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $107.86.

Pentair Stock Down 0.5%

PNR opened at $72.80 on Tuesday. The firm has a 50 day moving average price of $80.98 and a 200 day moving average price of $93.89. The company has a market cap of $11.77 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. Pentair plc has a 1 year low of $69.93 and a 1 year 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 posted its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. Sell-side analysts expect that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Dividend Announcement

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

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.