Pentair plc $PNR Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG reduced its position in Pentair plc (NYSE:PNR) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,345 shares of the industrial products company’s stock after selling 7,678 shares during the period. Raiffeisen Bank International AG owned about 0.06% of Pentair worth $10,932,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Avanza Fonder AB increased its stake in Pentair by 142.1% in the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock valued at $4,055,000 after purchasing an additional 22,858 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Pentair by 13.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock valued at $274,810,000 after purchasing an additional 305,166 shares in the last quarter. Nordea Investment Management AB increased its position in Pentair by 22.8% during 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 buying an additional 647,162 shares in the last quarter. SG Americas Securities LLC increased its position in Pentair by 624.2% during the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock worth $37,766,000 after buying an additional 312,574 shares in the last quarter. Finally, Clean Energy Transition LLP increased its position in Pentair by 26.7% during the third quarter. Clean Energy Transition LLP now owns 313,005 shares of the industrial products company’s stock worth $34,668,000 after buying an additional 66,036 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PNR shares. Weiss Ratings cut Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Barclays reduced their target price on Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Wall Street Zen cut Pentair from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Bank of America reduced their price objective on Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Finally, TD Cowen cut their price target on Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Pentair currently has a consensus rating of “Hold” and an average target price of $107.86.

Pentair Stock Performance

PNR opened at $72.55 on Friday. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. Pentair plc has a 1-year low of $69.93 and a 1-year high of $113.95. The business has a 50 day moving average price of $80.24 and a two-hundred day moving average price of $93.25.

Pentair (NYSE:PNR) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share 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 return on equity of 21.92% and a net margin of 15.98%.The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 earnings per share. Research analysts predict that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Dividend Announcement

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

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.